AMN
The Centre has informed the Supreme Court that no more grace period will be granted for depositing the scrapped Rs 500 and Rs 1,000 notes, saying the very object of demonetisation and elimination of black money will be defeated if a fresh window is given.
The Centre was responding to the July 4 directive by a bench headed by Chief Justice J S Khehar asking it to consider granting a window to those who have not been able to exchange the scrapped notes for genuine reasons.
The Ministry of Finance said in its affidavit that none of the petitioners have given any valid ground as to why they could not deposit the scrapped notes through his or her authorised third person.
Justifying its decision not to give any further window, the affidavit said the period thus available for every one to exchange and or deposit the specified bank notes was spread over 51 days,except for closed holidays, unlike the earlier demonetisation drive carried out in the year 1978, when it was restricted to six days only.