Jamshed Mistry and Jabbar Shaikh, two senior Bombay high court lawyers, have moved against the Central government’s decision to demonetise currency notes of Rs 500 and Rs 1,000.
The lawyers said that while they did not have any issue with the decision, it should have been carried out in a proper procedure to save citizens from inconvenience.
The court directed the applicants to put the matter before a regular bench after vacation, which ends on November 14, saying it is an “important issue” and it has many “legal aspects.”
The duo moved suo motu a application before the vacation bench of the high court headed Justice M.S. Karnik, saying the high court should take cognizance of central government decision due to which common citizens are being inconvenienced.
While arguing the matter, Mr Mistry said, “You can’t suddenly cripple the banking system and ban notes”
He further argued, “We understand the demonetisation of currency and for applying it, secrecy should be maintained but merely giving four hours’ notice to public is not notice — it affects the life of citizens and businessmen.”
Mr Mistry pointed out a notification by the Reserve Bank of India issued on November 2, which stated that all nationalised banks should ensure that 10 per cent of the total money in the bank should comprise Rs 100 notes. The notification had also given them a deadline of 15 days to fulfil the same. Based on this, he questioned the government’s announcement.
