New Delhi: The Supreme Court has directed the State Bank of India (SBI) to disclose all details related to electoral bonds, a mechanism allowing individuals and companies to make donations to political parties.
SBI Chairman is mandated to file an affidavit, declaring all bond details by 5 pm on Thursday, March 21, ensuring no information is withheld, as ordered by the Supreme Court.
The court specified that SBI must disclose all details, including alphanumeric numbers and serial numbers of electoral bonds, whether purchased or redeemed. Furthermore, it mandated that the Election Commission should promptly publish these details on their website upon receiving them from the SBI.
The India Today quoted Chief Justice of India D Y Chandrachud emphasising the need for full disclosure, and stating, “The judgment was clear that all details need to be disclosed… don’t be selective,” urging SBI to ensure transparency without suppression of any information.
Expressing the court’s expectation for comprehensive disclosure, the Chief Justice remarked, “Every conceivable detail should be disclosed… SBI is duty-bound to comply with the judgment of this court.”
The Supreme Court had previously reprimanded the SBI for inadequate disclosure of electoral bond numbers, which are crucial for linking donors to recipients, emphasizing that such information “has to be disclosed.”
Noting the incompleteness of details shared by SBI, a five-judge bench issued a notice to the bank, summoning an explanation for the lapse and scheduled a hearing for March 18.
The Supreme Court’s interim order on April 12, 2019, mandated political parties to submit information about received and expected donations to the Election Commission in sealed covers.
In its landmark verdict on February 15, the court invalidated the electoral bonds scheme, branding it “unconstitutional,” and instructed the EC to disclose donors’ information, donation amounts, and recipients by March 13.
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