Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Fri, 25 Feb 2022 06:51 PM IST
Summary
Hearing a case filed in the Bombay High Court in March 2016, the court directed the Reserve Bank of India (RBI) to replace its demonetised Rs 1.6 lakh.
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At that time, the court had asked Kishor Sohni to deposit his Rs 1.6 lakh with the local police station. Meanwhile, on November 8, 2019, the government banned the use of Rs 500 and Rs 1000 notes. Sohni requested the magistrate to return the money to him so that the notes could be exchanged by December 31, 2016. However, the magistrate did not agree to this and the deadline for exchanging old notes was over. Sohni got the nod to exchange notes on March 20, 2017. In this case, the court has now directed the RBI to replace the old notes of Sohni.
Expansion
At that time, the court had asked Kishor Sohni to deposit his Rs 1.6 lakh with the local police station. Meanwhile, on November 8, 2019, the government banned the use of Rs 500 and Rs 1000 notes. Sohni requested the magistrate to return the money to him so that the notes could be exchanged by December 31, 2016. However, the magistrate did not agree to this and the deadline for exchanging old notes was over. Sohni got the nod to exchange notes on March 20, 2017. In this case, the court has now directed the RBI to replace the old notes of Sohni.