The Supreme Court on Friday adjourned the dembonetisation matter matter till December 5. Regarding problems faced by cooperative banks, CJI has asked the government to see if something can be done in this regard.
The apex court was supposed to hold hearing on challenge to the constitutional validity of the demonetisation decision and the inconvenience caused to the people due to it.
Earlier, a bench of Chief Justice T.S. Thakur and Justice D.Y. Chandrachud initially said it would first hold a hearing on the inconvenience being faced by the public and steps taken to address them. Seeking to know the ground reality, the court said that the hearing on the validity of the note ban could take place later. The apex court had later agreed to hold hearing on both aspects as Kapil Sibal urged the court to hold preliminary hearing either on Tuesday (November 29) or Thursday (December 1) on the validity of the decision.
Assailing the government decision putting limit on the withdrawals by the account holders, Kapil Sibal had asked under what provisions of law a depositor can be restricted from withdrawing his own money. He said that people were starving (of money) on the streets, markets are closed, and there is no cash.
Sibal said that Section 26 of the Reserve Bank of India Act, 1934, does not give the government) the power to curtail people’s right to withdraw their own money.
Advocate Manohar Lal Sharma – known for filing PILs, described the demonetisation decision as a “conspiracy” and “corruption”, alleging insider dealings in the process.
Sharma told the court that demonetisation decision has brought suffering to the ordinary people with leaders both on the ruling side and in the opposition ranks go unscathed.