Hyderabad [India], Nov. 10 : A Public Interest Litigation (PIL) was on Thursday filed in High Court of Judicature at Hyderabad challenging union government's decision of scrapping Rs.500 and Rs.1000 currency notes.
The petition, filed by an advocate Pusala Venkata Krishnaiah, alleged that sufficient time frame had not been given for the transition and it would create unprecedented chaos and panic among people.
The PIL filed challenges the provision that is sub-section 2 of section 26 of Reserve Bank of India 1934 Act claiming that there is no guidelines how to exercise the power available under the section.
The petitioner said that time for such a huge change should have given by the government. The High Court will tomorrow hear the PIL..
Source: ANI
