In a landmark verdict delivered on February 15, the Supreme Court had scrapped the Centre's electoral bonds scheme that allowed anonymous political funding, calling it "unconstitutional" and ordered disclosure by the EC of donors, the amount donated by them and the recipients.
The apex court said that the State Bank of India has not disclosed the electoral bonds (unique alphanumeric numbers).
Possibly the biggest donor, according to the list by the Election Commission, is a little-known lottery company called Future Gaming and Hotel Services.
In its application, the EC has urged the Supreme Court that the portion of March 11 order may be rectified or modified and the documents, data or information submitted by it before the court in sealed covers may be returned to it to enable the poll panel to comply with the court's directions.
India's number one and most followed Super Prime Time News Show, ‘Aaj Ki Baat-Rajat Sharma Ke Saath' was launched just before the 2014 general elections.
SBI's submission to the EC included vital details such as the date of purchase, names of purchasers, and denominations of the electoral bonds. Moreover, it encompassed information on the date of encashment of the bonds and the recipient political parties.
The State Bank of India (SBI) had shared the data on electoral bonds with the Election Commission of India (ECI) after Supreme Court's directive.
As per the Supreme Court's direction, the State Bank of India (SBI) has made available the details of electoral bonds to the Election Commission of India before the close of business hours on March 12.
The affidavit, filed by SBI's chairman Dinesh Kumar Khara, said the bank has also furnished to the EC details like date of encashment of the electoral bonds, the names of political parties which received the contributions and the denominations of the bonds.
In a significant development, the Supreme Court mandated SBI to disclose the specifics of electoral bonds to the Election Commission by the conclusion of business hours on March 12. This order was issued on Monday, compelling SBI to comply with the deadline.
The State Bank of India has approached the Supreme Court seeking more time to disclose donor details associated with electoral bonds. The bank requests an extension until June 30 to fulfill this obligation, citing logistical challenges and practical constraints.
The State Bank of India has approached the Supreme Court seeking more time to disclose donor details associated with electoral bonds. The bank requests an extension until June 30 to fulfill this obligation, citing logistical challenges and practical constraints.
In a bid to secure additional time, SBI has filed an urgent plea with the Supreme Court, citing the need for more time to compile and furnish the necessary data.
The scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of efforts to bring in transparency in political funding.
Donations to political parties are tax-exempt, provided they are directed towards political parties recognised by the Election Commission.
India's number one and most followed Super Prime Time News Show, ‘Aaj Ki Baat-Rajat Sharma Ke Saath' was launched just before the 2014 general elections.
Noting that the verdict has been delivered by a constitution bench of the Supreme Court, BJP leader Ravi Shankar Prasad said the judgment runs into hundreds of pages and requires a comprehensive study before a structured reply is given by the party.
The Congress welcomed the Supreme Court verdict striking down the electoral bonds scheme, and said that it will reinforce the power of votes over notes. In a post on X, Mallikarjun Kharge said he hoped the government will stop resorting to "such mischievous ideas" in the future.
The Supreme Court's ruling declaring the electoral bonds scheme unconstitutional dealt a significant blow to the government. Here's a summary of the events leading to this landmark decision:
The Supreme Court struck down the electoral bond scheme, saying it violates the right to information and the freedom of speech and expression under the Constitution.
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