What are electoral bonds?
These electoral bonds were introduced in 2017. Individuals and corporate groups are allowed to donate unlimited amounts of money anonymously to any political party. Under this electoral bond scheme, electoral bonds can be purchased from SBI in certain income groups. The Jo can use them to brand political donations to anyone who does not even require the Bharat Election Commission to disclose the name of the donor.
Ranchi/Desk: Supreme Court has given a big blow to SBI in the electoral bond case. Let us tell you, during the hearing in the case, SBI had placed before the court a demand of time till June 30 to give details related to electoral bonds, which was rejected by the court. The case was heard in a constitution bench of 3 judges headed by Chief Justice of the Supreme Court DY Chandrachud. In which the court, while giving its decision, has ordered the bank to provide information about electoral bonds to the Election Commission within 24 hours. Not only this, the court has also directed the Election Commission to publish it on its official website by 5 pm on March 15. During the hearing in the case, the bench comprised Justice Sanjeev Khanna, Justice J.B. Pardiwala, Justice B.R. Gavai and Justice Manoj Mishra were also present. Senior advocate Harish Salve presented his arguments in the court on behalf of SBI in the electoral bond case.
Supreme Court had banned the issuance of electoral bonds
Let us tell you, earlier while hearing the case on February 15, the Supreme Court had declared the system of electoral bonds given to political parties as unconstitutional. Along with this, the Constitution Bench of 3 judges headed by Supreme Court Chief Justice DY Chandrachud had also banned the issuance of electoral bonds. Apart from this, the court had directed SBI to give information to the Election Commission about who has donated how much and to which party by March 13. But even before March 6, SBI had filed a petition demanding extension of the period for giving information about electoral bonds till June 30.
Know: While hearing the case, the Supreme Court asked SBI to immediately follow the orders of the court. You open the information before ECI. Because this is a very serious matter. On this, SBI said that the bond number, name and amount of the bond will be provided to ECI in two-three weeks. Along with this, information about what has been given to which party will be provided within three weeks. On this matter of SBI, the Supreme Court asked questions and said, what has SBI done till now in the last 26 days? These things have not been mentioned for your application. It was to be told that after the orders of the court, what has SBI done till now to provide the data? Answering the questions, Salve on behalf of SBI said that at least three months are required. We cannot make any mistake otherwise people will file a case against us.
He said that information about who purchased the electoral bonds will be provided but time is needed to provide the names along with the bond numbers. Work is going on on this. He said that our problem is that we have complete information, but all the names are kept separate physically, whereas the bond number and which political party the bond was given to is different. This is the bank’s problem. According to the rules of the Central Government, the bank cannot give information about the bond buyer and its number to any authority. On this the CJI said that all the information is sent to the Central Main Branch of Mumbai, then what is the problem in giving it to the ECI? All the names are sent in sealed cover to the main branch of SBI in Mumbai, this is what you have written in your application. Salve said that we will have to reverse the entire process. In such a situation, time is needed to give the names and numbers of those taking electoral bonds. This was a secret and now it has to be given to ECI. Senior advocate Harish Salve, appearing for SBI, said that the bank needs time to give complete information.
ADR also filed a petition in the court against SBI
SBI has said that it will take time to provide all the information related to the election, while challenging this demand of SBI, an NGO Association for Democratic Reforms i.e. ADR has also filed a petition against the bank in which NGO Association for Democratic Reforms has filed a petition against the bank. In its petition filed in the court, Reforms accused the bank of contempt of court orders. He has said in his petition that when SBI asks for extension till June 30 to provide information related to electoral bonds, questions arise on the transparency of this process. Let us tell you, in the matter of issuance of electoral bonds, the Supreme Court has sought information from SBI by March 6, 2024 about 22 thousand 217 electoral bonds purchased for parties from April 12, 2019 to February 15, 2024.