Attorney General KK Venugopal said that the government will not take any coercive action against them for possessing demonetised currency.
The 14 petitioners, including NRIs who were not in the country when demonetisation was announced, however, said that they neither challenged the constitutional validity of the demonetisation nor the provisions of the RBI Act. They just want to deposit their old currency notes.
"Our hard-earned money has been confiscated without due process of law and without granting fair opportunity," lawyer Pranav Sachdeva, appearing for one of the petitioners said.
The top court had in December last year referred to a Constitution Bench the issue of validity of the demonetisation of Rs 1,000 and Rs 500 notes adding that to challenge the decision was of "public importance" as several complaints of inconvenience were registered in its aftermath.
Follow NDTV for latest election news and live coverage of assembly elections 2019 in Maharashtra and Haryana.
Subscribe to our YouTube channel, like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.