Demonetisation hearing continues in SC today

New Delhi [India], Dec. 9 : The Supreme Court will continue to hear the demonetisation matter today after it had adjourned the matter because of problems faced by cooperative banks.

Chief Justice of India T.S. Thakur had asked the government to see if something can be done. "People are suffering, it is a serious problem." he had said then. The Centre had submitted an affidavit last week on the demonetisation move in the Supreme Court, saying it is an attempt to unearth black money stashed over the last seven decades.

Attorney General Mukul Rohatgi said that the Centre had filed a reply in the Supreme Court in compliance with the top court's earlier order on the issue.

The Centre in its affidavit told the apex court that demonetisation is a step to reduce ratio of cash transactions, adding the objective is to unearth illegal parallel economy.

Attorney General Rohatgi had earlier filed a transfer petition before the Supreme Court seeking a stay on all pending pleas against demonetisation.

The apex court had on November 18 refused to put a stay on hearings in various High Courts and lower courts related to the demonetisation of Rs.

500 and Rs. 1,000 currency notes..

Source: ANI