(MENAFN - Asia Times)
India's Supreme Court on Tuesday admonished the government and asked it to give people a final chance to exchange old notes that were demonetized last year, according to media reports.
When Rs500 and Rs1,000 notes were demonetized by the government in November 2016, people were given until December 31 to deposit or exchange them, after which they became worthless.
The DailyBrief Must-reads from across Asia - directly to your inbox
ANI reported that the Supreme Court gave the government two weeks to announce a decision on whether it would give those who were unable to deposit or exchange demonetized notes by the deadline one final opportunity to do so.
The Supreme Court stated: 'You cannot trash a person's genuine hard-earned money and let it go to waste like this… you had promised them a window, now you can't go back on your word to those who had genuine difficulty.'
It added: 'If a person can prove it is his money and he/she had real difficulty in depositing by December 31, he must get a chance to change them,' the court said.
After receiving the judicial direction, Solicitor General Ranjit Kumar sought a compromise, asking the court to not order the government to open a general window for everyone. However, he said the government "is agreeable to examine case by case" instances of citizens not having had the chance to deposit their old notes.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.