MINISTRY OF FINANCE
(Department of Economic Affairs) NOTIFICATION New Delhi, the 12th May, 2017
G.S.R. 460(E) the Central Government hereby notifies rules for Deposit or
exchange of SPNs (Rs. 500/RS1000 notes confiscated on or before 30.12.2016)
Where SPNs have been
confiscated or seized by a law enforcement agencies or produced before a court
on or before the 30th day of December 2016, such SPNs may be tendered, at any office of the RBI or a
nationalised bank designated by the RBI for the said purpose, for deposit in a
bank account or exchange off the value thereof with legal tender, subject to
the following conditions, namely:—
(a) in case confiscated
SPNs are returned by the court to a person who is a party in case pending
before that court, then, the person shall be entitled, on production of the
direction of the court, to deposit or exchange such SPNs@
(b) in case SPNs are forfeited in favour of
the Central Government or the State Government by an order of the court: That Government shall be
entitled, on production of the direction of the court, to deposit or exchange
such SPNs; or
(c) in case SPNs are placed in custody of any
other person by an order of the court on or before the 30th day of December,
2016 : then, the person shall be entitled, on production of the direction
of the court, to deposit or exchange such SPNs @,
@ the serial numbers of which (i) have been noted by the law enforcement
agency which confiscated or produced them before the court; and (ii) are mentioned
in the direction of the court.
