The Supreme Court Today (March 18th) said the State Bank of India (SBI) can’t be selective and has to disclose all “conceivable” electoral bond details in its possession, including unique bond numbers that would disclose the link between the buyer and the recipient political party.
Thank you for reading this post, don't forget to subscribe!
NEW DELHI: The Supreme Court today made clear its stance regarding the transparency of electoral bond transactions, mandating the State Bank of India (SBI) to divulge comprehensive details about these financial instruments.
The apex court emphasized that the SBI is obligated to reveal all “conceivable” information pertaining to electoral bonds within its custody. This includes the disclosure of unique bond numbers, a critical piece of data that establishes the connection between the purchasers of the bonds and the beneficiary political parties.
The directive was issued by a distinguished five-judge bench led by Chief Justice D Y Chandrachud. This decision comes as a continuation of the Supreme Court’s earlier judgment in the case concerning electoral bonds, wherein the court had previously ordered the bank to provide complete information regarding these bonds.
The bench underscored the necessity for the State Bank of India to comply with the order without awaiting further instructions, thereby highlighting the importance of transparency in the electoral bond scheme.
SC directed the State Bank of India to make a complete disclosure of all details related to electoral bonds, including the unique bond numbers that would disclose the link between the buyer and the recipient political party, by March 21.
Bench said there is “no manner of doubt” that the SBI is required to disclose complete details of the bonds.
It directed the SBI chairman to file an affidavit before it by 5 pm on March 21 indicating that the bank has disclosed all the details.
During the proceedings, the bench stated,
“We had asked all details to be disclosed by the SBI which includes electoral bond numbers as well. Let SBI not be selective in disclosure.”
This remark was made collectively by the bench which also includes Justices Sanjiv Khanna, B R Gavai, J B Pardiwala, and Manoj Misra. This directive underscores the Supreme Court’s commitment to ensuring accountability and transparency in the financing of political parties through electoral bonds.
Click Here to Read Previous Reports on Electoral bonds
FOLLOW US ON YOUTUBE FOR MORE LEGAL UPDATES
