A petition has been submitted to the Supreme Court of India, requesting a Special Investigation Team (SIT) inquiry into the electoral bonds scheme, which was recently invalidated by the apex court.
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NEW DELHI: A new petition has been submitted to the Supreme Court of India, calling for the establishment of a Special Investigation Team (SIT) to conduct a thorough investigation into the electoral bonds scheme, a controversial program that was recently invalidated by the court.
The petition has been filed jointly by Common Cause and Centre for Public Interest Litigation (petitioners), both registered societies, aims to expose alleged corruption and malfeasance associated with the scheme, which allowed for anonymous financial contributions to political parties.
The petitioners argue that the electoral bonds have facilitated a pay-for-play dynamic between corporations and political parties, whereby donations are exchanged for lucrative contracts, licenses, and regulatory protections. Specifically, they contend that:
- A significant portion of these bonds were exchanged as part of quid pro quo arrangements, helping corporates secure governmental contracts and regulatory leniency in return for financial contributions.
- The scheme has likely influenced government contracts worth vast sums and has been linked to regulatory failures that allowed harmful drugs to enter the market, posing severe risks to public health.
- The legality of these transactions is questioned, particularly in cases where donations contravene the stipulations of Section 182(1) of the Companies Act. The act prohibits newly established or government-owned companies from making political contributions, yet data shows that such entities have purchased electoral bonds.
- The petitioners further allege that certain major investigative bodies, such as the CBI, ED, and the IT Department, have been compromised. They suggest these agencies might have deliberately overlooked offenses by contributors to the ruling political party, in exchange for donations.
Described by observers as potentially the largest scam in India, and perhaps globally, the petition stresses the need for a comprehensive investigation, suggesting that the integrity of several government agencies might be compromised.
To ensure thoroughness and impartiality, the petitioners recommend that the SIT be supervised by a retired Supreme Court judge and consist of reputable sitting or retired officers selected by the court.
This plea underscores serious concerns about the transparency and fairness of political financing in India and suggests systemic corruption that could have deep implications for democratic governance.
The advocates Prashant Bhushan, Neha Rathi, and Kajal Giri represent the petitioners, emphasizing the gravity and complexity of the alleged infractions. The Supreme Court’s decision on this matter could have significant repercussions for political funding and transparency in India.
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