The Bombay High Court has directed RBI to replace demonetized currency notes with valid notes, subject to complying with prescribed requirements.
Kishor Ramesh Sohoni, the petitioner filed a case in the Dombivali police station. On the basis of the complaint JFCM-3, Kalyan, Thane, directed the accused to deposit 1.6 lakhs in the above said the police station was deposited prior to demonetization in 2016.
Later the JMFC-3, Kalyan directed the Petitioner to collect the money from the police station, but he was handed with old currency notes. Petitioner approached RBI to replace the old currency notes since they were all along in custody of the police with valid current tender. RBI replied that, since the petitioner had not submitted any order issued by the court in accordance with the requirements mentioned in the SBN rules, the Bank couldn’t exchange/deposit the SBNs as requested by the petitioner. Hence, the petitioner filed writ before the Hon’ble High Court of Bombay under Article 226.
The division bench comprising of Justice G.S. Patel and Justice Madhav J. Jamdar has directed the RBI to replace the currency tendered by the Petitioner with current valid tender, subject to the Petitioner complying with other requirements such as mentioning serial numbers, etc.
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