HC notice to RBI in currency exchange case

The High Court of Karnataka issued a notice to the Reserve Bank of India (RBI) on a petition seeking directions to exchange old notes with new ones.

The petitioner, T Ramadas, contended that the Kadur police booked him for offences under the Karnataka Police Act and had seized Rs 1.69 lakh from him. Later, when he moved the court, the proceedings against him were quashed and the amount that was seized was returned to him in old notes.

The petitioner gave a representation to the RBI to exchange his old notes with the new ones to which the RBI refused as the serial numbers of the old notes were not mentioned in the police records or in the court orders.

Aggrieved by the RBI’s refusal to exchange the old notes, the petitioner moved the court. Justice A S Bopanna ordered notice to RBI and Kadur police in the matter.

DH News Service