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.
Today(on 11th March), The Supreme Court of India has decisively demanded that the State Bank of India disclose details of electoral bonds, emphasizing transparency in political funding. The court’s refusal to grant an extension to the SBI reflects a strong commitment to accountability. The SBI faces possible contempt proceedings if it fails to comply by the March 12 deadline.
Former Finance Secretary Subhash Chandra Garg highlighted that while the State Bank of India (SBI) had access to details such as who bought electoral bonds and when, matching each bond with its recipient party was deemed impossible. He criticized SBI’s request to the Supreme Court for more time to provide data as a “cooked up […]
The State Bank of India (SBI) has approached the Supreme Court seeking an extension for disclosing details of electoral bonds encashed by political parties. The Supreme Court of India, under the leadership of Chief Justice DY Chandrachud, is set to deliberate on a crucial plea from the State Bank of India (SBI). The State Bank […]
The Supreme Court, led by CJI DY Chandrachud, will hear SBI’s plea on March 11 for an extension until June 30 to disclose electoral bond details from April 2019. This plea has implications for political funding transparency. The court will also address a contempt plea filed by ADR. The complexity of tracking and reporting these financial instruments is underscored.
The Association for Democratic Reforms (ADR) has filed a contempt petition Today against the State Bank of India (SBI) for seeking an extension to disclose electoral bond details. This defiance of Supreme Court’s order and the ensuing legal battle reflects the struggle for transparency in political funding, with far-reaching implications for India’s political and financial systems.
Answers to Why State Bank of India (SBI) has requested an extension until June 30 to disclose the identities of Electoral Bond donors to the Election Commission, postponing the disclosure until after the Lok Sabha elections in April-May, are here. SBI outlined logistical challenges, highlighting the complexities involved in complying with the Supreme Court’s directive, emphasizing transparency while safeguarding donor anonymity.
The State Bank of India (SBI) has approached the Supreme Court with a plea to extend the deadline for disclosing details of electoral bonds to the Election Commission. The national banking giant has requested an extension until June 30, citing the need for additional time to compile the comprehensive data required by the Election Commission. […]
The Supreme Court of India has struck down the electoral bonds scheme, emphasizing the voters’ entitlement to information about electoral candidates. The scheme was found to disproportionately impact this right and failed to be the least restrictive measure in curbing black money. The Court’s decision marks a significant step towards enhancing transparency and equity in political funding.