Rohatgi also told the court that about Rs 10 lakh crore was expected to come to the exchequer till December.
Mumbai: The government today told the Supreme Court that it may extend the deadline for exchanging Old High Denomination (OHD) currency notes beyond the present December 30 last date.
The apex court on Wednesday took a strong stand on the note ban and refused to restrain the high courts in states from taking up the issue saying “There are various issues. People may get immediate relief from the high courts.”
Attorney General Mukul Rohatgi while defending the government stand on the demonetisation told the three-member bench that there is no cash crunch in country as the banks have received Rs 6 lakh crore in deposits since November 10.
Rohatgi also told the court that about Rs 10 lakh crore was expected to come to the exchequer till December end which would prevent hoarding of cash.
However, his explanation failed to cut the ice with the bench that said doors of the court can not be shut at a time when the situation is such that it could snowball into riots.