The court's Madurai bench agreed with the contention of the Assistant Solicitor General that it was part of the government's policy to eradicate black money in the country, strengthen the economy and also protect the nation from terrorism.
Petitioner M Seeni Ahamed, state General Secretary of the Indian National league, had challenged the Finance Ministry's notification and sought a direction to declare the notes to be valid till December 31.
He said the government was duty bound to implement its policy without causing hardship to the common man.
He submitted that people were not able to buy groceries or eatables and other essential items, ATM centres were crowded and shop owners were not accepting the notes.
He wondered how the government could 'paralyse' money transactions by closing down ATMs and said government should have provided enough breathing time for people to make alternative arrangements.
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