Demonetization: SC to hear plea by Tamil Nadu-based co-operative society against curbs

The Supreme Court on Thursday agreed to hear on Friday a plea seeking a direction to the Centre and the RBI that a Tamil Nadu-based co-operative society be allowed to accept old demonetized currency notes and permit withdrawals.

A bench headed by Chief Justice T S Thakur listed the plea for hearing on Friday when the counsel said that it was an urgent matter as the member of the co-operative society has not been able to withdraw and deposit the money.

The plea has been filed by a Villupuram-based N K Kumar that he has not been able to withdraw his money deposited with Gingee Primary Agricultural Society in the area.

The plea said that the co-operative society has been accepting deposits and has been maintaining locker facilities. It has sought an appropriate direction to respondents including the Centre and RBI to implement the regulation issued on November 8, 2016 which permitted financial institutions to pay to their customers having an account with them.