What happens, if you insist banned currency?

New Delhi, Nov 4: The Union government on Friday told the Supreme Court that no criminal action would be taken against those petitioners who held old currency notes of Rs. 500 and Rs. 1000. The central government has informed that Court during the hearing of a petition filed seeking the direction from the Supreme Court to Centre for those persons who couldn't deposit old currency notes.

The supreme court has also said that a 5 member constitution bench would decide on the constitutional validity of the demonetization and all other related aspects to it. The court has also said all individual petitions to extend the time frame to deposit the old notes would also be dealt by constitution bench.

The apex court had on December 16, last year referred to a Constitution Bench, the issue of the validity of government's decision to demonetize currency notes of Rs. 1,000 and Rs. 500.