The State Bank of India revealed acquiring 22,217 electoral bonds of varying denominations from April 2019 to February 2024. Lawyer Kapil Sibal raised concerns over transparency, criticizing political promises. The debate intensified as data showed significant contributors to political parties. The controversy fuels demands for judicial intervention and thorough investigation into political funding transparency.
Bar Leader Adish Aggarwala, president of SCBA and AIBA, seeks a reevaluation of the Supreme Court’s directive on electoral bonds. He supports the annulment of the scheme but questions the directive to disclose donor information. He expresses concerns about potential backlash and urges a review of the court’s decision. The SCBA distances itself from his request for a presidential reference.
On Thursday (14th March):Future Gaming and Hotel Services led by Santiago Martin emerged as the top purchaser of electoral bonds, acquiring bonds worth Rs 1,368 crore, followed by Megha Engineering Infrastructure Limited at Rs 966 crore and Qwik Supply Chain Private Limited at Rs 409 crore. The data also reveals extensive involvement of prominent political parties in the electoral bond scheme, reflecting bipartisan participation. The Election Commission, complying with Supreme Court’s directions, released comprehensive information for public scrutiny, enabling citizens to evaluate political affiliations and activities. The State Bank of India provided detailed information on electoral bond purchases and redemptions in adherence to the court’s directive. Additionally, a five-judge Constitution bench unanimously invalidated the electoral bonds scheme and related amendments, disallowing anonymous donations.
Rajya Sabha MP Kapil Sibal has called for a Special Investigation Team (SIT) to examine electoral bonds. He criticized the lack of action by investigative agencies and highlighted the need for impartial scrutiny. The disclosed data reveals diverse contributors to political parties, emphasizing the importance of transparency and accountability in political funding mechanisms.
The Supreme Court Today issued notice to the State Bank of India for not disclosing electoral bond numbers, aligning with a directive to enhance transparency in political financing. The released data reveals significant contributions from companies and individuals to major political parties, highlighting the widespread use of electoral bonds. This move aims to promote transparency and informed discussions in Indian politics.
Election Commission of India (ECI) on Thursday has made public the data pertaining to electoral bonds, as submitted by the State Bank of India (SBI). 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 […]
SBI today submitted a compliance affidavit to the Supreme Court regarding the electoral bonds scheme. Out of 22,217 bonds purchased, 22,030 have been redeemed. Any unredeemed bonds were redirected to the Prime Minister’s relief funds. The Supreme Court has mandated disclosure of donor identities, amounts donated, and recipients of funds.
The Supreme Court Bar Association publicly disavows President Adish Aggarwala’s request to the President of India for a presidential reference on the electoral bonds case, regarding it as an attempt to undermine the Supreme Court’s authority. This move raises concerns about the integrity and independence of legal institutions, leaving lingering questions about Aggarwala’s motivations.
The President of the Supreme Court Bar Association has requested the President, Droupadi Murmu, requesting that the judgment of the Supreme Court in the Electoral Bonds case not be enforced. The letter suggests seeking a presidential reference, and until the reference is heard, the judgment should not be implemented. Today (February 12), the President of […]
Today(on 11th March),The Supreme Court of India has rejected the State Bank of India’s request for an extension to disclose electoral bond details, emphasizing transparency in political funding. SBI must provide the information by March 12, 2024. The court expressed dissatisfaction with SBI’s progress and instructed the Election Commission to publish the disclosed information by March 15, 2024.
