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SC refuses to stay demonetisation of Rs 500 and Rs 1000 notes

SC refuses stay

New Delhi: The Supreme Court refused to stay Central government’s demonetisation drive on Tuesday. A bench comprising Chief Justice TS Thakur and Jusitce DY Chandrachud further asked the government to submit a plan of action to cope with the hardship caused to people due to the cash crunch.

A batch of PILs were filed in the top court against demonetisation. The pleas sought quashing of the government’s decision on the grounds that the move infringed citizen’s right to life and trade among others.

The bench however, refused staying of the move but asked the government to consider raising the amount of money that can be withdrawn by people for now.

The next hearing by the apex court is on November 25.

Notably, after Prime Minister Narendra Modi’s doing away with Rs 500 and Rs 1000 from last Tuesday midnight huge impact on the working class, small and rural business in the short term has been seen.

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