The Supreme Court of India ruled that the electoral bonds scheme violated the right to information and free speech, dismissing a review petition against its earlier decision. The scheme’s anonymity favored the ruling party and undermined accountability. The Court mandated disclosure of all related financial details by the State Bank of India and the Election Commission.
The Supreme Court of India ruled that disciplinary proceedings against SBI employees cannot start after retirement, as such actions are void unless permitted by law. The ruling clarifies that the employment relationship ends at retirement, emphasizing employers must comply with legal standards when addressing past employee misconduct.
On November 7, the Supreme Court will rule on the five-year Jet Airways ownership dispute between Jalan Kalrock Consortium and creditors led by SBI. JKC claims ownership while creditors request liquidation. Chief Justice DY Chandrachud will deliver the decision before his retirement on November 10, indicating potential impacts on India’s aviation sector.
Today,22nd April, The Supreme Court issued notice to Jet Airways and the Jalan Kalrock Consortium following a petition by the State Bank of India challenging the NCLAT’s decision regarding the airline’s ownership transfer. The case reflects complex legal and financial dilemmas in India’s aviation sector. The SBI cited outstanding payments and non-compliance with NCLAT’s orders, emphasizing the intricate nature of the proceedings.
The Indian government approved printing Rs 10,000 crore worth of electoral bonds just before the Supreme Court scrapped the scheme as unconstitutional. The approval and subsequent printing, handled by the Security Printing and Minting Corporation of India, sparked discussions on the transparency of political financing. Following the ruling, the Finance Ministry directed the State Bank of India to cease printing remaining electoral bonds. The scheme’s anonymity has divided opinions on political donation transparency in India.
Today (27th March): Former Finance Secretary Subhash Garg criticized the State Bank of India for compromising the anonymity of electoral bond purchases. He highlighted that the recording of alphanumeric codes goes against the scheme’s intent. The Supreme Court’s involvement revealed connections between bond buyers and political parties, leading to doubts about transparency. Garg urges the Election Commission of India to ensure complete transparency.
The Election Commission of India (ECI) and the State Bank of India (SBI) took a step towards enhancing transparency in political funding by disclosing detailed information regarding electoral bonds data. On Thursday, March 21, the Election Commission of India (ECI) and the State Bank of India (SBI) took a step towards enhancing transparency in political […]
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.
The State Bank of India (SBI) on Tuesday (February12) submitted the Electoral Bonds data to the Election Commission of India (ECI), in adherence to a strict directive from the Supreme Court issued the previous day. The President of the Supreme Court Bar Association has requested the President, Droupadi Murmu, requesting that the judgment of the […]
The immediate market reaction to the Supreme Court’s decision was negative, as reflected in the drop in SBI’s share price. Supreme Court on Monday dismissed the State Bank of India’s (SBI) plea for an extension to disclose details related to the Electoral Bonds Scheme. The Supreme Court on Monday (February 11) dismissed the State Bank […]
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