The apex court was hearing on the Centre’s plea seeking the transfer of a large number of cases currently pending before various high courts and subordinate courts challenging various dimensions of the November 8 decision.
The hearing also included circulars issued after November 8, on various aspects and fallout of the ban announced on higher value currency notes.
A bench of Chief Justice T.S. Thakur and Justice D.Y. Chandrachud adjourned the hearing for Monday, asking Attorney General Mukul Rohatgi and senior counsel Kapil Sibal to sit together and categorise the different cases so that the hearing of the matter could be streamlined.
However, one category that stood out was that of district co-operative banks which were faced with serious cash crunch situation as money deposited with them was not being accepted by the State Bank of India nor were they earning any interest on the deposited amount.
The court was told that district cooperative banks were also not getting any new currency.
Senior counsel P. Chidambaram representing some of the district cooperative banks said that he agreed with the Attorney General seeking the transfer of their cases to the apex court as the working of these banks were paralysed.
The worst affected district cooperative banks were in Kerala, Maharashtra and Rajasthan.