Demonetisation: HCs will hear pleas, reiterates SC; Centre seeks unified trial on move

NEW DELHI: The Supreme Court entertained the Centre's plea to transfer petitions against demonetisation in various high courts either to the SC or one of the HCs to avoid multiplicity of judicial decisions but refused to stay ongoing proceedings in various high courts.
On attorney general Mukul Rohatgi 's submissions, a bench of Chief Justice T S Thakur and Justices D Y Chandrachud and L N Rao issued notices to persons who have filed petitions in HCs to seek their response to the Centre's plea for transferring the cases.Rohatgi also sought to assure the court that the post-monetisation situation would normalise in the next 20 days.
Looking to stretch his luck further, Rohatgi sought a stay on proceedings before the HCs during pendency of the issue before the apex court. "It is an usual order the SC passes every time it entertains a petition seeking transfer of petitions pending in different HCs," he said.
The bench did not agree and said, "As you yourself said the petitions have raised all kinds of issues before the HCs, it will not be proper to stay the proceedings . People are facing different types of problems and may be the HCs can provide some urgent relief." The court posted the transfer plea for further hearing on December 2.
Moving away from transfer petition, the CJI asked the AG whether the post-demonetisation situation had improved to which Rohatgi said queues before ATMs and banks had reduced considerably.
"There is no dearth of new currency notes. The real problem is movement of these notes to every nook and corner of the country.The situation will normalise in the next 20 days," he added.
The bench asked whether post-demonetisation deposits in banks matched the government's expectation of Rs 15-16 lakh crore? The AG said, "I had said total money in circulation was to the tune of Rs 15-16 lakh crore of which Rs 4-5 lakh crore was fake currency used in north-eastern states and Jammu and Kashmir for anti-national activities. We expect a deposit of Rs 10 lakh crore."
"So if you get Rs 10 lakh crore deposited in banks by people, you will call it a success?" asked the CJI. The AG replied, "Within 10 days of the demonetisation policy coming into force, banks have received more than Rs 6 lakh crore. This shows the policy is already a success.
The AG said the Centre has already constituted a committee of experts to go around the country to collect information on post-demonetisation effects.