Supreme Court Orders SBI to Reveal Electoral Bond Details
In a significant ruling, the Supreme Court has directed the State Bank of India (SBI) to disclose comprehensive details of electoral bonds, including alphanumeric numbers, to the Election Commission. This decision stems from the court's declaration on February 15, 2024, which deemed Electoral Bonds unconstitutional.
While insisting on transparency, the court rejected a plea to disclose details of Electoral Bonds predating the interim order issued on April 12, 2019. The five-judge Constitution bench, led by Chief Justice of India D Y Chandrachud, emphasized that the SBI must provide all pertinent information related to the purchase and receipt of Electoral Bonds.
Senior advocate Harish Salve, representing the bank, assured the court of SBI's commitment to transparency. He affirmed, "We will provide every bit of information. SBI is not withholding any data." The court demanded an affidavit from the SBI chairman and managing director by Thursday, confirming the disclosure of all Electoral Bond details.
However, the court declined to entertain a plea seeking disclosure of bonds issued since the inception of the scheme in 2018, citing the April 12, 2019 interim order as the cutoff date. This decision, the bench explained, was made to ensure that all concerned parties were duly notified.
Furthermore, the bench dismissed a plea by advocate Prashant Bhushan, representing the NGO Association for Democratic Reforms, regarding major political parties' failure to disclose donors' names in their submissions to the Election Commission. The court reasoned that revisiting pre-interim order data would tantamount to reviewing the judgment, a move it was unwilling to undertake.
The Supreme Court's directive underscores its commitment to transparency and accountability in electoral financing, setting a precedent for future scrutiny of such matters.
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