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TMI Blog2025 (3) TMI 603X X X X Extracts X X X X X X X X Extracts X X X X ..... ITION NO. 2926 OF 2017 ALONG WITH INTERIM APPLICATION NO. 3542 OF 2019 - - X X X X Extracts X X X X X X X X Extracts X X X X ..... ent Nos. 1 to 3: Mr. D.P. Singh, Advocate. For the Respondent Nos. 4 to 6: Mr. Venkatesh Dhond, Senior Advocate with Mr. Dhaval Patil, Mr. Shreyas Menkudale, Advocates, i/by K. Ashar & Co.,. For the Respondent Nos. 7 and 8: Mr. Arjun Gupta, Advocate. ORAL JUDGMENT : (PER A.S. CHANDURKAR, J.) 1. Rule. Rule made returnable forthwith and heard learned counsel for the parties. By a Notification dated 8th November 2016 issued by the Ministry of Finance, specified bank notes in the denomination of Rs. 500/- and Rs. 1,000/- were declared not to be legal tender. The said specified bank notes were to be recalled in the manner specified in the said notification from 10th November 2016 to 30th December 2016. The time to deposit such sp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... them to take back the specified bank notes of the value of Rs. 20,00,000/- as well as the silver ingots. After receiving the same, the petitioners on 17th January 2017 visited the specified office of the Reserve Bank of India, Mumbai to deposit the aforesaid notes. The same were however not accepted and the petitioners were informed that after 30th December 2016 it was not permissible to accept the same. After issuing a notice in that regard, the petitioners have approached this Court praying that the 4th respondent - the General Manager, Department of Currency Management, Reserve Bank of India be directed to accept the aforesaid specified bank notes. 2. Mr. Udaya Sankar Samudrala, learned counsel for the petitioners submitted that the spe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inance to contend that it would be necessary for the petitioners to furnish serial numbers of the specified bank notes that had been seized by the Police Authorities prior to 30th December 2016. In absence of indication of such serial numbers, the Reserve Bank of India was precluded from accepting the aforesaid specified bank notes and thereafter exchanging them for legal tender. He sought to distinguish the judgment in the case of Sunny s/o Ratansingh Mago (supra) to submit that in the said case the serial numbers of the seized notes were available. It was thus submitted that in view of the aforesaid position, no relief could be granted to the petitioners. Mr. Arjun Gupta, learned counsel appearing for 7th and 8th respondent referred to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner no. 1 dated 24th October 2018 stating therein that in view of the communication dated 10th January 2017 issued by the Income Tax Department directing release of the specified bank notes, the same were returned to the petitioners by the Senior Inspector of Police. The serial numbers of these currency notes in the denomination of Rs.500/- have been stated in Annexure-I to the said affidavit. Since the serial numbers of the specified bank notes that were seized from the petitioners and returned thereafter are now available, the apprehension expressed on behalf of the Reserve Bank of India that the value of the aforesaid specified currency notes could not be paid to the petitioners in the absence of such serial numbers is taken care of. T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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