The SoCo Hub: News

The SoCo Hub: Challenge to Demonetization

Two petitions have been filed at the supreme court by advocate Sangam Lal Pandey and Advocate on record V N Sharma challenging the decision of the central government to demonetize 500 and 1000 notes. Both the petitions were mentioned yesterday. Both the petitions were mentioned today – one before Justice Anil R Dave in the morning and the other before Chief Justice TS Thakur in the evening.

The petition, filed by the lawyers, alleged that sufficient time frame had not been given for the transition and it would create unprecedented chaos and panic among people. V. N. Sharma in his petition questions the way the scheme is implemented and alleged that “it failed to follow constitutional rule of law, principles of natural justice and provide sufficient time to citizens of India to prepare for such phasing out of specified bank notes.” He has contended that the “constitutional ‘Right to Life’ & ‘Right to Trade’ of all the citizens of India is being infringed by the Centre due to unreasonable, unmethodical and dictatorial manner of implementing the said Scheme”. Sharma has alleged

Sharma has alleged violation of Section 26(2) of the Reserve Bank India Act, 1934 which, per him, mandates that, “reasonable time be given to people to make alternate financial arrangements to avoid large scale mayhem and chaos.” Sangam Lal Pandey has raised the issue that various private hospitals are refusing to accept notes of denomination 500 and 1000. Besides that, he also pointed out the difficulties that people are facing in travelling by public transport, other grounds like initiation of marriage ceremonies, functions etc. He has prayed that the notification be quashed.

While, Vitec Narayan Sharma has prayed for quashing the notification which de-monetizes 500 and 1000 notes or alternatively direct the Centre to provide methodological and reasonable time frame to the people for exchanging the specified bank notes to legitimate notes. The Modi Government filed a caveat in the apex court registry saying that it be heard if the court entertains and passes some directions on the petitions. Both petitions are likely to be listed for hearing on Tuesday, November 15.


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