New Delhi: Rejecting the State Bank of India’s (SBI) plea for an extension to reveal information regarding the electoral bonds scheme, the Supreme Court on Monday said the bank must provide the details to the Election Commission of India (ECI) by Tuesday.
Additionally, the ECI has been instructed to make these details public on its website by 5 pm on Friday.
The Supreme Court on Monday challenged the State Bank of India’s (SBI) request for an extension to provide details regarding the now-defunct electoral bonds scheme.
The court questioned SBI’s inaction over the past 26 days since the landmark verdict on February 15, which annulled the electoral bonds scheme and mandated the Election Commission of India to disclose donation details by March 13.
The SBI’s request for an extension until June 30 to disclose the details was contested by the Association for Democratic Reforms (ADR), one of the petitioners against the electoral bonds scheme initiated by the Narendra Modi government in 2017.
The ADR alleged that the SBI’s delay tactic aims to keep the information undisclosed before the upcoming Lok Sabha elections.
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Representing the SBI, senior advocate Harish Salve said the bank stored information about the electoral bonds scheme outside the core banking system following a standard operating procedure (SOP). He cited the need for additional time to comply with the court’s order, emphasizing the intricate process of collating information while adhering to secrecy protocols.
Chief Justice DY Chandrachud and Justice Sanjiv Khanna pressed Salve to expedite the process, pointing out that the donor details were supposedly kept in sealed covers at an SBI branch in Mumbai. However, Salve clarified that the bank possesses comprehensive details regarding bond purchasers, their funding sources, and respective political party contributions. He highlighted the meticulous crosschecking required to match purchaser names with bond numbers.
Despite the SBI’s assertion of a time-consuming matching process, the Chief Justice emphasized that the court hadn’t directed such an exercise. Expressing concern over the SBI’s lack of transparency, he questioned the progress made by the bank since the verdict.
Salve defended the need for three more months to complete the task accurately, citing potential legal repercussions if mistakes occur. He underscored the scheme’s design to prevent leaks, yet the Chief Justice remained skeptical, particularly regarding an SBI official’s affidavit seeking modifications to the court’s judgment.
In its February 15 ruling, the Supreme Court declared the electoral bonds scheme “unconstitutional,” citing its infringement upon citizens’ right to information.
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