The Supreme Court on Wednesday issued notice to petitioners who had approached various courts in the country against the Centre's demonetisation decision.
The notice was issued on the Centre's plea for transfer of petitions, pending before different High Courts and subordinate courts, to the Supreme Court itself or any one of the High Courts.
A bench headed by Chief Justice T.S. Thakur, however, declined to stay the proceedings, for now, as it directed the next hearing of the matter on December 2.
The government told the apex court that demonetised notes totalling Rs six lakh crore have been collected so far and the figure was expected to reach Rs 10 lakh crore.
Answering a query by the bench, Attorney General Mukul Rohatgi said the banks are flush with money and the Indian economy will revive. He said the interest rates will also come down.
Also Read
He told the bench that cash transactions the world over were 4 per cent as against India's 12 per cent.
The Centre had approached the apex court to seek transfer of the cases, contending that proceedings in various courts were creating difficulties.
Rohatgi said the transfer plea concerned 10 cases. He told the court that all kinds of cases are being filed to seek different reliefs.
The cases sought to be transferred are pending before the High Courts of Delhi, Mumbai, Karnataka, Kerala, Andhra Pradesh and Rajasthan.
Recalling that in the course of hearing of the Centre's plea last time, the court had suggested that all the cases could be transferred to the Delhi High Court, Rohatgi urged the apex court to stay the proceedings for the time being.
--IANS
pk/tsb/bg
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
