Published On : Mon, May 29th, 2023
By Nagpur Today Nagpur News

Delhi HC dismisses plea challenging exchange of Rs 2,000 notes without ID

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New Delhi: The Delhi High Court on Monday dismissed a plea challenging notifications enabling exchange of Rs 2,000 currency notes without any requisition slip and ID proof.

A bench of Chief Justice Satish Kumar Sharma and Justice Subramonium Prasad rejected the petition, which has challenged the notifications by the RBI and SBI enabling exchange of Rs 2,000 banknotes without requisition slip and identity proof.

Today’s Rate
Monday 07 Oct. 2024
Gold 24 KT 76,000 /-
Gold 22 KT 70,700 /-
Silver / Kg 93,000 /-
Platinum 44,000/-
Recommended rate for Nagpur sarafa Making charges minimum 13% and above

Petitioner and advocate Ashwini Kumar Upadhyay submitted that a large amount of currency has reached either an individual’s locker or has “been hoarded by separatists, terrorists, Naxals, drug smugglers, mining mafias and corrupt people”.

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The plea submitted that the notifications were arbitrary, irrational and offend Article 14 of the Constitution.

The Reserve Bank of India (RBI) has defended before the High Court its notification, saying it is not demonetisation but a statutory exercise.