Supreme Court Today (March 15th) Issues notice to SBI for not disclosing electoral bond numbers. Without the bond numbers being made available, it was not possible to cross-verify which company or individual was donating to which party.
NEW DELHI: The Supreme Court Today issued notice to the State Bank of India (SBI) for not disclosing electoral bond numbers and thereby not fully complying with its previous judgment. The top court categorically stated that electoral bond numbers, which link donors to recipients, must be disclosed by the lender.
“They [SBI] have not disclosed the bond numbers. It has to be disclosed by the State Bank of India,”
-said Chief Justice of India DY Chandrachud.
A five-judge bench, headed by Chief Justice DY Chandrachud, issued notice to SBI to explain the lapse and posted the matter for hearing on Monday, March 18.
The Supreme Court said today that the State Bank of India (SBI) should have disclosed the unique alpha-numeric numbers of the electoral bonds received by political parties and sought the bank’s response.
“We can instruct the office to scan and digitize the data, which might require a day… Once the data is digitized, the original documents will be returned to the Election Commission of India,”
-stated the Chief Justice of India.
Supreme Court directed its registrar (judicial) to ensure that the data filed earlier by the poll panel before it in a sealed cover be scanned and digitised.
“Who represents the State Bank of India? They have not revealed the bond numbers. The State Bank of India is obligated to disclose them,”
–the Chief Justice further remarked.
It said this be preferably carried out by 5 pm on Saturday and once the exercise is completed, the original documents be returned to the EC.
“All particulars must be made public by the State Bank of India,”
-emphasized the Chief Justice.
The Election Commission of India (ECI) on Thursday (March 14) has made public the data pertaining to electoral bonds, as submitted by the State Bank of India (SBI). This action aligns with the Supreme Court’s directive, aiming to shed light on the financial contributions received by various political entities through this mechanism. The electoral commission was requested to publish the details, as received from SBI, on its official website by 5 pm on March 15th.
The electoral bonds data, which covers transactions since April 12, 2019, was uploaded to the ECI’s official website following the apex court’s order, which mandated the publication of these details by March 15, 2024. The data encompasses bonds ranging from denominations of Rs 1,000 to Rs 1 crore and includes contributions made by both corporate entities and individuals.
The Supreme Court, in a landmark judgment, declared the Centre’s electoral bonds scheme, initiated in 2018, as “unconstitutional,” citing concerns over anonymity in political donations. The court’s decision emphasized the need for transparency, instructing the ECI to disclose information regarding the donors, the amounts donated, and the recipients.
The Election Commission of India said in a statement on Thursday,
“In compliance of Hon’ble Supreme Court’s directions, contained in its order dated Feb 15 & March 11, 2024 (in the matter of WPC NO.880 of 2017), the State Bank of India (SBI) had provided the data pertaining to the electoral bonds to the Election Commission of India (ECI) on March 12, 2024. The Election Commission of India has today uploaded the data on electoral bonds on its website as received from SBI on “as is where is basis”.
The SBI, tasked with the issuance and management of electoral bonds, complied with the Supreme Court’s order by providing the ECI with detailed information on the transactions. Despite initially requesting an extension until June 2024, the bank was instructed to expedite the process and submit the data by March 12, 2024.
The ECI, in its commitment to transparency, stated,
“In compliance of the Hon’ble Supreme Court’s directions, contained in its order dated Feb 15 & March 11, 2024 (in the matter of WPC NO.880 of 2017), data on electoral bonds has been supplied by the State Bank of India to the Election Commission of India, today, March 12, 2024.”
This move underscores the election body’s dedication to upholding the principles of disclosure and transparency in the electoral process.
In its statement, the ECI underscored its dedication to promoting disclosure and transparency,
“It may be recalled that in the said matter, ECI has consistently and categorically weighed in favour of disclosure and transparency, a position reflected in the proceedings of the Hon’ble Supreme Court and noted in the order also,”
the election body said.
The released data reveals the involvement of various companies and individuals as donors, with notable names such as Megha Engineering and Infrastructure, Future Gaming and Hotel Services, Sun Pharma, and DLF Commercial Developers, among others. The list of recipients includes major political parties like the BJP, Congress, AITMC, BRS, AIDMK, TDP, YSR Congress, AAP, SP, and JD(U), highlighting the widespread use of electoral bonds in political financing.
This disclosure marks a pivotal moment in India’s political landscape, offering a clearer picture of the financial dynamics at play. By making the electoral bonds data accessible to the public, the ECI and the Supreme Court have taken a significant step towards ensuring accountability and transparency in the funding of political activities. The development is expected to foster a greater understanding of the influence of money in politics and encourage more informed discussions on the subject among the electorate and policymakers alike.
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