Adhere To 2017 Notification On Production Of Demonitized Currency, So It Can Be Exchanged As Legal Tender: Karnataka HC To Trial Courts

The Karnataka High Court recently dealt with the issue of demonetized banknotes and their exchange procedure. The petitioner had requested the release of demonetized notes, arguing they should be exchanged per government guidelines. However, the court referred to the statute that clearly states demonetized notes cannot be exchanged after the set deadline, even if the notes were seized by the authorities before the deadline expired. The court maintained that statutory provisions cannot be circumvented, thus dismissing the petition. This judgment highlights the rigidity of statutory deadlines and reinforces the need to comply with established legal processes when handling demonetized currency.