On Monday, the Delhi High Court rejected a complaint against notices allowing the exchange of rupee notes worth up to 2,000 without a requisition form or identification.
The appeal, which contested the RBI and SBI notices allowing the exchange of 2,000 rupee banknotes without a requisition slip and identification verification, was denied by a bench consisting of Chief Justice Satish Kumar Sharma and Justice Subramonium Prasad.
A thorough order is anticipated.
According to petitioner and attorney Ashwini Kumar Upadhyay, a sizable sum of money has either found its way into someone’s locker or has “been hoarded by separatists, terrorists, Maoists, drug smugglers, mining mafias, and corrupt people.”
The argument put out was that the notifications violated Article 14 of the Constitution and were arbitrary and illogical.
The Reserve Bank of India (RBI) defended its notification before the high court, claiming that it was a statutory procedure rather than demonetisation.
