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SC stays all demonetisation proceedings in HCs

supreme court

The Supreme Court on Friday referred a larger five judge bench to decide on the validity of the recently pronounced demonetisation issue and asked all the High Courts and lower courts to stay all proceedings whatsoever in that regard.

Any petition challenging the November 8 decision will henceforth be entertained in the apex court only.

It also refused to pass any interim order on extending exemptions on permitting the use of scrapped notes in the country for any services is it emergency related and left the call to be taken by the Centre.

Calling the Centre as sensitive enough to have taken the decision while considering all aspects the court said government will take appropriate decisions to ease off the problems of the people.

Besides it also did not grant any relief to DCCBs on saying that it was right on part of the Centre to put compliance of KYC norms as mandatory for accepting deposits.

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