Bazar, Chandni
Chowk, Delhi.
B. On 08.11.2016, the Government if India announced
demonetization of one thousand (1000) and five hundred
(500) rupee notes. On this ... forged/false documents
and deposited approx. Rs.25 Crore after the demonetization.
As per the preliminary investigation of the said case it is
transpired that
effect?
In the event that Section 26(2) is held to permit demonetization, does it
suffer from excessive delegation of legislative power thereby rendering ... have been discriminated against by
excluding them from accepting deposits and exchanging demonetized notes.
Keeping in view the general public importance and the far reaching
MUKHERJEE. J.
The constitutional validity of the High Denomination
Bank Notes (Demonetization) Act, 1978 (hereinafter referred
to as the 'Demonetization Act) and the legality ... this
stage to refer not only to the relevant provisions of the
Demonetization Act but also of the Reserve Bank of India
impugned
Notification. This is popularly known as an act/policy of
‘demonetization’.
3
2. Immediately after the impugned Notification was issued,
several writ petitions challenging ... policy of demonetization
came to be filed before this Court as also before various High
Courts. Transfer Petitions were filed by the Union, seeking
transfer
part of the
territory of India. Consequently the Hyderabad Currency was
demonetized with effect from April 1, 1953 and the Hyderabad
Currency Demonetization (Consequential ... Hyderabad Act No. I of 1953) was
enacted. Section 2 of the Demonetization Act provided that
references in any Hyderabad law, regulations Etc. which
immediately
Chandni
Chowk, Delhi. On 8th November, 2016, when Government of India
announced demonetization of one thousand and five hundred rupee currency
notes, Raj Kumar Goel ... basis of forged and
fabricated documents, approximately ₹25 crores was deposited after
demonetization. Thus, it was alleged that Ashish Kumar, Raj Kumar Goel
and certain
accused
had converted a huge amount of their unaccounted money,
post demonetization scheme (announced on 8th November,
2016) into the new high denomination currency ... accused had converted a huge amount of their
unaccounted money, post demonetization scheme
(announced on 08.11.2016) into New High Denomination
currency and other valuables through
respect of monies
deposited by the assessee with its banker during the demonetization period.
2.1. Insofar as issue nos. (i) and (ii) are concerned, they ... this regard, it requires to be
noticed that demonetization was brought about on 08.11.2016 and the period
of demonetization spanned between
persons accused in the FIR are involved in
fraudulently exchanging old demonetized currency
notes of Rs.500/- and Rs.1,000/- leading to commission ... revealed
petitioner's involvement in acquiring/ possessing/
exchanging/converting the old demonetized currency
notes of Rs.500/- and Rs.1,000/- into newly introduced
price of Rs.192.50 crores was agreed upon. At that juncture,
demonetization was announced, notwithstanding which the negotiations for sale ... petitioners allege that a sum of Rs.130 crores was
received in demonetized currency after the middleman deducted Rs.8 crores
towards his share
