Bombay High Court directs RBI to allow petitioner to exchange demonetized notes worth Rs 1.6 lakhs

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The Bombay High Court on Friday directed the Reserve Bank of India (RBI) to allow a petitioner, Kishor Sohoni to exchange Rs 1.6 lakhs worth of demonetised notes.

In an old case of cheating where Sohoni was a complainant, a Kalyan court magistrate in March 2016 had directed the accused to deposit Rs 1.6 lakh with the local police station.

Despite Sohoni's request to the magistrate for an order allowing him to collect the money before the December 31, 2016 deadline for exchanging old notes, he was not allowed to do so and the order was passed only on March 20, 2017.

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