Two pleas in courts against Rs500, Rs1,000 demonetisation

A Public Interest Litigation has been filed in the Supreme Court challenging the Narendra Modi government's demonetisation of currency notes of Rs 1,000 and Rs500 denomination.

"The PM's announcement has come to thwart black money, fake currency and terrorism; but at the same time, this economic crisis created at the cost of lives of 1.25 billion Indians, cannot be termed less than 'economic terrorism' in the lives of aam aadmi," the petition said.

Meanwhile, two advocates approached the Bombay High Court on Wednesday to take suo motu cognisance of the ban on Rs500 and Rs1,000 notes.

Advocates Jamshed Mistry and Jabbar Shaikh claimed the decision was not legally valid. The judge told the advocates to take up the issue when the court resumes after the Diwali vacation.

"The last time government banned high value notes in 1978, it came out with an ordinance and ... an Act," said Mistry.