The Delhi High Court is scheduled to pronounce its judgement on a PIL challenging validity of RBI's notification of May 19 and SBI's of May 20, allowing exchange of Rs 2000 currency notes without any requisition or identity slips.
A bench of Chief Justice Subhash Chandra Sharma and Justice Subramonium Prasad had on May 23 reserved its order in the petition filed by advocate Ashwini Kumar Upadhyay.
Senior advocate Parag Tripathi for the RBI had submitted that the exercise being undertaken is a part of the statutory process and it was not demonetisation.
Advocate Upadhyay, for his part, submitted that he was not challenging the decision to allow the exchange of Rs 2000 currency notes but only that part of notification, which allowed people to do it without any identification, even though every household possessed Aadhaar cards and bank account.
In his plea, he contended the notifications are arbitrary, irrational and offend Articles 14 of the Constitution of India.
Upadhyay also sought a direction to the RBI and SBI to ensure that Rs 2000 banknotes are deposited in respective bank accounts only so that no one could deposit the money in others' bank account and people having black money and disproportionate assets could be identified easily.
He contended that cash transaction in high value currency is the main source of corruption.
(Published 28 May 2023, 13:09 IST)
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