Not for grant of grace period to deposit scrapped notes: Govt to SC

NEW DELHI: The Centre today asserted in the Supreme Court that it was not inclined to grant any more grace period for depositing the scrapped Rs 500 and Rs 1,000 notes, saying the very object of demonetisation and elimination of black money would be defeated if further window was given.

“The very object of demonetisation and elimination of black money will be defeated if a window is opened for a further period as the persons in possession of the specified bank notes (scrapped notes of Rs 1,000 and Rs 500) will have had sufficient time and opportunity to carefully plan the reasons and excuses for not depositing the SBNs within the permitted period — before December 30, 2016,” the Ministry of Finance said in its affidavit. (AGENCIES)

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