The Supreme Court on Friday disposed all petitions filed by individuals and companies who lost their hard-earned money in the demonetisation drive announced by the Government last year and directed them to approach the Constitution Bench which is hearing the issue. Till such time the issue is decided, the Attorney General appearing for Centre assured that no coercive action will be taken against them with regard to the sum of money stated in their petitions.
The bench of Chief Justice Dipak Misra, Justices AM Khanwilkar and DY Chandrachud allowed the petitioners to file applications before the Constitution Bench that will decide one way or the other whether the Ordinance banning old Rs 500 and Rs 1,000 notes was valid in law.
The bench asked, “How can we grant any relief on these petitions when we have not declared on the constitutional validity of the Government’s decisionIJ” The petitioners urged that their petitions do not challenge the Ordinance as the only relief they seek is to get permission to deposit their money with Reserve Bank of India, which they failed to do by December 31, 2016 for genuine reasons.