The Communist Party of India (Marxist) has also submitted a contempt petition against the State Bank of India for failing to disclose information on Electoral Bonds. The Supreme Court is scheduled to review this case tomorrow, alongside the contempt petitions from ADR & Common Cause, as well as the SBI’s request for an extension of time.
The Supreme Court of India is set to deliberate on a plea from the State Bank of India (SBI) regarding an extension for disclosing details related to electoral bonds. Scheduled for Monday, March 11, the hearing will address SBI’s request to postpone the deadline until June 30 for providing comprehensive information about the contributions made to political parties through these bonds.
A five-judge Constitution bench, led by Chief Justice DY Chandrachud, is tasked with this significant hearing. The bench also includes justices Sanjiv Khanna, B R Gavai, J B Pardiwala, and Manoj Misra, and is expected to convene at 10:30 am to examine the petitions. This session is particularly noteworthy as it follows a landmark verdict on February 15, where the same bench declared the Centre’s electoral bonds scheme unconstitutional due to its allowance for anonymous political funding. The court mandated that the Election Commission disclose the identities of donors, the amounts donated, and the recipients by March 13.
In addition to SBI’s plea, the Supreme Court will also consider a separate petition alleging that the bank “wilfully and deliberately” defied the apex court’s directive to furnish the electoral bond contribution details to the Election Commission by the stipulated deadline of March 6.
The controversy surrounding electoral bonds has been a focal point of political funding debates in India. Instituted as a means to ensure transparency in political donations, the scheme has faced criticism for allowing anonymity, thereby obscuring the sources of political funding.
The SBI, designated as the authorized institution for handling these bonds, has argued that compiling the requested details is a labor-intensive process. The bank highlighted the intricate measures implemented to maintain donor anonymity, stating that “decoding” the electoral bonds to match donors with donations presents a complex challenge due to the segregation of information across different “silos.”
This upcoming hearing is pivotal as it not only addresses the procedural complexities associated with electoral bonds but also touches upon broader issues of transparency, accountability, and the integrity of political financing in India. As the nation awaits the Supreme Court’s decision, the outcome could have far-reaching implications for electoral funding practices and the legal framework governing political donations.
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Electoral Bonds | Why SBI Seeks Extension From SC To Disclose Donor Details (lawchakra.in)
