The Supreme Court, led by CJI DY Chandrachud, has declared the Electoral Bonds scheme unconstitutional, invalidating anonymous political party donations. The Court cited violations of the right to information and free speech, mandating disclosure of bond recipients and refunding unused bonds. The scheme, introduced in 2018, aimed for transparency but faced criticism for fostering corruption and favoritism.
The Supreme Court is delivering its verdict on the legality of electoral bonds, which allow anonymous contributions to political parties. The scheme, introduced in 2017, permits donors to anonymously donate funds to political parties by purchasing bearer bonds from the State Bank of India. The petitions challenging the amendments made through the Finance Act, 2017, argue for transparency in political funding.