1. #DeMonetisation and its aftermath‐Fraud by the State.
Author: Biswajit Das, Advocate Supreme Court of India.
B‐4/115, Safdarjung Enclave New Delhi.
First, Govt. requested people to use Indian currency as a means for transaction. Trusting their
Govt. people both Indian and foreigners used this currency as a means of transaction.
Later, Govt. withdrew the #LegalTender (mind you, lawfully it can only be a counter guarantee)
in gross breach of the people's trust making them a mere mute spectator to this entire drama.
To drum up support, Govt. first used catchy words like #Terrorism, #CounterfeitCurrency,
#BlackMoney and #Corruption. Later, when realised this is not sufficient to douse
discontentment amongst few informed people, it used #Corruption as the biggest plank. Again,
later invented expressions like #DigitalEconomy to justify its action of #DeMonetisation in order
to discredit those genuine, not political, discontents.
Govt., consciously and deliberately, made all possible efforts to hypnotise people, both gullible
n intellect, and went into a advertisement blitzkrieg to convince them about #DeMonetisation.
Now only yesterday, it started telling to the people of another catchy expression,
#TransparentEconomy.
So, ever since it began with its horrible idea on #DeMonetisation, it changes its goal post every
now and then with a hit and trial process to see where it fits the bill.
What is shocking is that the debate in public domain is in complete disarray. The justification
given by the Govt at the first blush appears to be more convincing which, very naturally, is
resonating with majority population. Since the debate is not calibrated, objective oriented and
precise, everything appears to be an innocuous national interests action.
Let us analyse briefly what is the ills of this #DeMonetisation aftermath which should bother
everyone and which can be decisively and ubiquitously termed as outright illegal.
1. Your property in value of the currency denomination, counter guaranteed by the Govt.,
is at the mercy of the executives (notification etc.), politicians (legislation), RBI and
Bankers contrary to clear and ambiguous law that you and only you alone are master of
it. Look at the fraud.
2. Executives and politicians in Govt. flexing their muscle over you making you just a mere
pawn over your own property and life. Look at the fraud.
3. Citing expressions like #Terrorism, #CunterfeitCurrency, #BlackMoney, #Corruption,
#DigitalEconomy and #TransparentEconomy, Govt is hoodwinking people and
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2. attempting to enter into their private space by authorising the authorities to query them
and investigate them without any basis whatsoever. Look at the fraud.
4. When they failed to govern they, instead of correcting governance, are seeking to
encroach into your private space to arrest the ills of society with one more request to
the people to embrace this hardship. Remember for every ills, there is a lawful
mechanism available to arrest and an entire system is in place too. Not able to arrest
those respective ills through existing established lawful system and mechanism would
amount to either failure of governance or they are something, by very nature, can't be
weeded out completely. There are certain ills of society dependent upon morality, let us
accept, can't be weeded out completely. Any effort to achieve the same is no less
mirage. Thus the other reason is the failure of governance. So in this scenario one can't
go to a level where state is given power to scan each and every people on rule of
presumed guilty. Look at the fraud.
5. Govt is once again making requests to people to embrace #DigitalEconomy not making
them know that such transaction is exigible to additional direct cost of #ServiceCharge
and #ServiceTax therein. So in other words, Govt. is trying to exploit its population even
on this to jack up its #ServiceTax revenue so that it can squander the additional revenue
for its #VoteBank politics . Look at the fraud.
6. Govt. is seeking information from Banks to empower itself to launch any kinds of
investigation and prosecution. Mind you, it is reserving its right to initiate any
investigation, genuine or frivolous. So in other words, you are at the complete mercy of
the Govt. Look at the fraud.
7. Banking sector was reeling under tremendous stress owing to bad allocation of its
financial assets (NPA) and was at the cusp of a mini collapse, if not a major one though
the evidence then indicated an imminent banking meltdown. In order to force people to
deposit their household savings into Bank, #DeMonetisation was carried out so that
Bank will get the money to restructure its bad loan (NPA) and rejuvenate its sagging
liquidity. Look at the fraud.
8. Even on 31.12.2016, PM @NarendraModi did acknowledge the cash flush with Bank
post #DeMonetisation and announced some sops to some people as if it is Govt.
property. Bank is not allowing people to withdraw the deposited money so that Bank
can use them for relending, restructuring and the PM's declared sop. Look at the fraud.
9. Using people's deposit in Bank due #DeMonetisation to carry out massive investigation.
Please remember mere deposit or possession of money is no offence, nor the currency
itself. This in itself can't trigger any investigation. This is a sadistic approach presuming
entire population as corrupt or associated with illegality. Please see the big picture,
"everyone is presumed guilty till proven innocence" contrary to an established principles
of criminal jurisprudence, "an accused is deemed innocent till proven guilty". Govt has
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