Delhi High Court on Monday dismissed PIL challenging Reserve Bank of India and State Bank of India notifications, which permits the exchange of Rs 2,000 banknotes without obtaining any requisition slip and identity proof.
Senior Advocates Parag Tripathi and Jayant Mehta (appearing in another case) later said that the incident was unfortunate and such statements should not be made.
"Whatever be the mechanism adopted by the respondents 2 to 5 in fixing the rates for bulk supply to consumer pumps, prima facie the rate levied is highly exorbitant", the Court said.