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This is very serious, there may be riots: Supreme Court on demonetisation

By Newsd
Updated on :

Supreme Court on Friday refused the government’s plea to stay cases filed against the demonetisation move in High Courts and lower courts across the country.

The top court warned that people are suffering and there may be riots. “How can we shut our doors to people when there is a problem of such magnitude,” SC said to Centre.

A Bench led by Chief Justice of India T S Thakur note that people have started becoming “frantic” for money, standing in queue for hours. The bench observed that the cases filed across country showed the seriousness and magnitude of the problem.

“This is very serious. This is will require great consideration. People have become frantic, people are affected… There may be riots,” the Bench said to Attorney-General Mukul Rohatgi.

Rohtagi responded that there is no tense situation and people were patiently waiting in the lines.

Senior Advocate Kapil Sibal submitted that 47 people died as an after effect of demonetisation.

The CJI asked why government has a problem in dispensing enough Rs 100 notes.

Government admitted that there is a shortage of ₹100 notes as the demonetized ₹ 500 and ₹1000 notes formed 80 percent of the total currency in circulation.

Sibal said 23 lakh crore notes have to be printed and 14 lakh crore worth currency was frozen as from November 8. Only about nine lakh crore currency is in circulation, Hindu reported.

Rohtagi said that cash will be made available on swiping cards in petrol stations with State Bank of India cards , ₹ 2.5 lakh will be allowed for weddings and farmers will get Rs. 50000.

““People with Mercedes can afford to swipe their cards at petrol bunks, not farmers. Eight hundred crore people in this country earn less than₹10000 a month. That is not black money. A family walked 20 km from Bastar to an ICICI bank branch,” Sibal replied.

The Bench has asked Kapil Sibal and Centre to produce facts and figures on November 25, depicting ground realities.


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