Ramesh Bapurao Potdar and Ors. v. the Union of India and Ors.
Case brief
What is this about?
Demonetisation; specified bank notes Rs.500/Rs.1,000; seizure on 26.12.2016 before 30.12.2016 deposit deadline; return of notes on 14.01.2017 after Income Tax Department declined to seize; RBI post-deadline refusal to accept; Section 5(a) Specified Bank Notes (Cessation of Liabilities) Act, 2017; Notification dated 12.05.2017; Rule 2(a) Rules of 2017; serial numbers in Annexure-I to affidavit dated 24.10.2018; Section 131 Income Tax Act, 1961; exchange of demonetised notes permitted; writ petition allowed; cf. Sunny s/o Ratansingh Mago, W.P. No.507 of 2021 (Nagpur Bench); Kolhapur; Shahuwadi Police Station.
What did the court decide?
Rule made absolute: (i) petitioners to deposit the specified bank notes bearing the requisite serial numbers indicated in Annexure-I to petitioner no.1's affidavit dated 24.10.2018 with the 4th respondent within one week of receipt of the judgment; (ii) the 4th respondent to verify the notes against the numbers indicated in Annexure-I to the affidavit of petitioner no.1 dated 18.10.2018 (as printed in direction (ii)) and, after completing formalities, make over the equivalent amount to petitioner no.1 on behalf of all petitioners within seven days of receiving the notes; (iii) petitioner no.1 to indemnify the 4th respondent against any future claim of petitioner nos.2 to 8; no order as to costs; interim application disposed of.