Rashmikant Shah and his wife has moved a petition alleging that the RBI had failed to return their money on time. Now the court should direct them to return the money with interest.
Gujarat High Court on Tuesday issued a notice to Reserve Bank of India for not depositing money in the accounts of a senior citizen even after nine months, though he had tendered Rs47, 000 worth of scrapped notes in March.
Rashmikant Shah and his wife has moved a petition alleging that the RBI had failed to return their money on time. Now the court should direct them to return the money with interest.
The matter came up for hearing before the first division bench of Chief Justice R Subhash Reddy and Justice Vipul Pancholi, where the petitioners' advocate submitted that the elderly couple were facing great difficulties as the RBI failed to deposit Rs 47,000 in their account. After hearing the primary submission, the court has issued a notice to the RBI asking them to file a reply by December 11.
The couple claimed that they were in the UK from Septmber 2016 to January 2017. They submitted their passport and visa to the court. On November 8, the Union government implemented demonetization and gave time till December 31 to exchange the scrapped currency with the RBI.
They said that they approached the RBI in Mumbai in March after completing all formalities and tendered the scatrapped currency. They were assured that they will get their money within a fortnight. But even in two months after that, they did not receive the money. Every time they approached the bank, heyw ere given new dates.
Rashmikant said he had tendered 25 notes of Rs 1,000 and his wife deposited six notes of Rs 1,000 and 32 notes of Rs 500. They had incurred Rs 10,000 as expenses for traveling to Mumbai and staying there for two days to complete the process. Their advocate said that the court should direct the bank to deposit the same with interest to the account.
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