The court was hearing a plea by lawyer Ashwini Kumar Upadhyay that the notifications by RBI and SBI enabling exchange of Rs 2000 banknotes without proof were arbitrary and against the laws enacted to curb corruption
Advocate Ashwini Kumar Upadhyay entered a plea that the notifications enabling exchange of Rs 2000 banknotes by the RBI and SBI without proof were made arbitrarily and against the laws to minimise.
The Reserve Bank of India (RBI) on Tuesday told the Delhi High Court that the withdrawal of Rs 2000 notes is not demonetisation but a statutory exercise, and the decision to enable their exchange was taken for operational convenience.
The plea also seeks a direction to the RBI and SBI to make sure that Rs 2000 notes are deposited in respective bank accounts only, so that people having black money and disproportionate assets could be identified.
The court was hearing a plea by lawyer Ashwini Kumar Upadhyay that the notifications by the RBI and SBI enabling exchange of Rs 2000 banknotes without proof were arbitrary and against the laws enacted to curb corruption.