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Open petiton to Supreme Court to stop immense fraud by GOI / RBI during demonetization

Alwihda Info | Par Hem Raj Jain - 12 Novembre 2016

Bengaluru, India

Honorable Chief Justice
Supreme Court of India
New Delhi

Sub:- PETITION to kindly take suo-motto cognizance of immense fraud inflicted by GOI / RBI on gullible Indians during current demonetization.

Hon’ble Sir

--- There is one legally very objectionable aspect of current demonetization. Government of India (GOI) through Reserve Bank of India (RBI, directly or through Banks under its superintendence all over India) are under legal obligation to give equal value to the BEARER of the note whenever such notes are mandated to be surrendered by the holders of the money to authorities (prescribed by GOI / RBI), but they are not doing so.

It can be easily understood by the example of bearer-cheques and account payee cheques. The bearer of bearer-cheque is entitled to get the money without disclosing his / her identity but in case of account payee cheque it is given only to particular identity (in his / her bank account)

Similarly RBI is under legal obligation to ensure that the equal value is given to the holder (bearer) of the note and not to any particular identity. Hence it is written on (say) 100 Rupees note by Governor of RBI that ‘I promise to pay the bearer the sum of one hundred Rupees’ (which may be in terms of Rs 2, 5, 10, 20, 50 notes if not in terms of gold or any other precious metal etc as it used to be in old days when currency was on Gold-Standard).

Therefore during current demonetization the rule passed by GOI / RBI [that demonetized notes of Rs 500 & 1,000 will be replaced by Banks / Post offices by either new currency (of Rs 500 & 2,000) or by old not-demonetized currency (of Rs 2, 5, 10, 20, 50 and 100) only when the bearer of de-monetized notes produces his / her identity either in person or though his / her bank account] is not only illegal but patently a mass scale fraud / harassment being inflicted by GOI / RBI on the gullible ~ 1.3 Billion people of India.

The GOI / RBI is under legal obligation to immediately replace the demonetized notes (may be in stages depending upon availability of notes within a reasonable time for large sum replacement) whenever produced by its bearers in any amount. As far large (in view of GOI) sum of such money being converted by bearers of demonetized money, the Banks can be made legally responsible by GOI to inform Income Tax Authorities [which can make suitable inquiry from such person once he / she comes out of the Bank after getting this converted large (as per GOI) sum of money].

But in no case GOI / RBI are legally allowed to put any hurdle (of ID etc) in the process of ‘Paying the bearer the sum of mandatorily surrendered money’.

I am sure that Your Honor will not be unnecessarily influenced by any fallacious argument which may be adduced by GOI / RBI such that – ‘Income Tax is a sacred thing hence in order to protect it any oppressive and illegal rules can be made’.

[In this context it is pertinent to add that - ----- Tax in any case is an offensive term in any democracy. Tax was OK during Monarchies (the rule of Kings and Emperors) when rulers used to come in power on the strength of their sword and by giving blood and lives of their family members, relatives, friends and the army which they personally used to pay. But in democracy government comes in power courtesy the citizens of the country hence TAXING the citizen for the salaries and other expenditures of the State is insulting and offensive to say the least. As far money for paying the salaries and some other expenditures of the Union and of States (for Consolidated Funds of the governments) in the discharge of their functions regarding sovereign (and not welfare) acts of the State it can easily be recovered from the profits of the monopolies of the States like Railways, Electric distribution, Microwave distribution like 3 G, distribution of water etc. Otherwise also if governments get revenue for their consolidated funds out of such profitable State monopoly activities then government employees (and so-called public servants) will have stack in the profitable and efficient functioning of such government organizations / Departments etc. Moreover whenever people are expected to keep records on the basis of which State gets its revenue there will always be huge corruption, harassment and impediment to smooth economic activities in the country (as has been witnessed during almost financial / economic shutdown of the country to majority of Indians after current demonetization of Rs 500 & 1,000 currency notes). Hence it is only a matter of time that Income Tax will be scrapped once people friendly party comes in power at the Centre].

Therefore in view of above mentioned Your Honor is requested to kindly take suo-motto cognizance of said immense fraud / harassment being inflicted by GOI / RBI during current demonetization on the gullible ~ 1.3 billion people of India and kindly (i)- Order GOI / RBI to replace demonetized note without asking any ID of the bearer of such demonetized notes (ii)- Allow (on its request) liberty to GOI to make Banks legally responsible to inform Income Tax Authorities whenever large (as per GOI) sums of demonetized money is offered to Banks for replacement.


Yours Honor’s truly

Hem Raj Jain
Aged 71 years S/o Sh N.C. Jain, S – 163, Maya Indraprastha Apt, J.P. Nagar VIth

Bengaluru - 560078, India

CC to:- The Chairman, NHRC with a request to kindly assist SCI [under section 12 (b) of ‘ The Protection of Human Rights Act’] in dispensing justice in this case which involves basic human rights of the ~ 1.3 Billion gullible people of India

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