‘Wilful, deliberate disobedience’: ADR. The Association for Democratic Reforms (ADR) Today (March 7th) has submitted a contempt petition to the Supreme Court against the State Bank of India (SBI). This comes after the SBI sought an extension until June 30 to reveal the specifics of every electoral bond redeemed by various political parties.
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NEW DELHI: The Association for Democratic Reforms (ADR) has initiated legal action today against the State Bank of India (SBI). The ADR has filed a contempt petition in the Supreme Court, challenging SBI’s request for an extension until June 30 to unveil the details of electoral bonds encashed by various political entities.
A bench headed by Chief Justice D Y Chandrachud took note of the submissions made by lawyer Prashant Bhushan, who appeared in the court on behalf of NGO Association for Democratic Reforms (ADR), that he was seeking initiation of contempt proceedings in the case.
“Please send an e-mail. I will pass the order,”
–the CJI said.
Bhushan said the SBI’s plea is likely to be listed on March 11 and the contempt application should also be heard together.
The crux of the issue lies in SBI’s failure to meet the Supreme Court’s stipulated deadline of March 6 for the disclosure of information regarding electoral bonds redeemed by political parties. This delay has sparked a nationwide debate on transparency and accountability in political funding.
SBI’s plea for additional time until June 30 to disclose the specifics of each electoral bond encashed by political factions has yet to be addressed, as the apex court has not scheduled a hearing for their request. This has added to the growing uncertainty and legal complexities surrounding the case.
The controversy took a significant turn last month when a constitution bench led by the Chief Justice declared the electoral bonds scheme unconstitutional. The bench directed SBI to reveal details of each bond redeemed by political parties, including the date and denomination of the bonds. This landmark decision aimed to enhance transparency in political funding, a move that has been long demanded by advocacy groups and civil society.
On February 15, the Supreme Court took a bold step by annulling the electoral bonds scheme, introduced for political funding, citing that it infringes upon the Constitutional right to freedom of speech and expression, as well as the right to information. The court’s directive for SBI was clear: provide the details of all electoral bonds encashed from April 2019 onwards to the Election Commission by the deadline of March 6.
In its petition, the ADR expressed severe discontent with SBI’s actions, stating,
“The SBI has wilfully and deliberately disobeyed the judgment passed by the Constitution Bench of this Hon’ble Court, and the same not only negates the right to information of the citizens but also wilfully undermines the authority of this Hon’ble Court.”
This statement underscores the gravity of the situation and the perceived defiance of the country’s top bank against the judiciary’s mandate.
The ongoing legal battle between ADR and SBI highlights the tension between the need for transparency in political funding and the operational challenges faced by financial institutions in complying with judicial orders. The case has become a focal point for discussions on the integrity of political financing and the role of the judiciary in upholding constitutional rights.
As the Supreme Court has yet to decide on SBI’s request for an extension, the political and legal communities watch closely. The outcome of this case could set a precedent for how electoral bonds and similar financial instruments are managed and disclosed in the future, potentially reshaping the landscape of political funding in India.
The controversy surrounding electoral bonds and SBI’s compliance with the Supreme Court’s directives underscores the ongoing struggle for transparency and accountability in the country’s political funding mechanisms. As the case unfolds, it will undoubtedly have far-reaching implications for the relationship between the banking sector, the judiciary, and the political system in India.
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