Electoral Bonds Case: Supreme Court to Determine Disclosure of Bond Numbers by State Bank of India
A Constitution bench of the Supreme Court is scheduled to convene on Monday to address the electoral bonds case, deciding whether the State Bank of India (SBI) should be compelled to disclose the unique identification numbers of the bonds.
Comprising Chief Justice of India DY Chandrachud, and justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra, the bench will hear the plea at 10:30 am. On Friday, the Supreme Court criticized the SBI for failing to disclose the unique alphanumeric numbers associated with each electoral bond, which could aid in identifying donors and recipient political parties, asserting that the bank is obligated to reveal such information.
The five-judge bench led by Justice Chandrachud has also issued a notice to the SBI, seeking an explanation for its non-compliance with the court’s directives, amidst a growing political controversy surrounding the electoral bonds scheme. The bench has scheduled the hearing for March 18.
Justice Chandrachud emphasized that the SBI must furnish all relevant details, reprimanding the bank for providing incomplete information, a day after the Election Commission of India released a comprehensive list of entities that purchased electoral bonds for political contributions.
This hearing follows the election commission’s recent disclosure of fresh electoral bonds data, submitted to the Supreme Court and subsequently made public. These details are believed to pertain to transactions up to April 12, 2019.
According to a statement from the poll panel, political parties had submitted electoral bonds data in sealed envelopes as directed by the Supreme Court’s interim order issued on April 12, 2019.
The SBI reported that donors purchased a total of 22,217 electoral bonds of varying denominations between April 1, 2019, and February 15 this year, with 22,030 redeemed by political parties. Data related to the electoral bonds scheme was made public on Thursday following Supreme Court instructions.
The Chief Justice questioned the representation for the SBI, highlighting the court’s directive to disclose all bond details, including purchaser, amount, and purchase date, which the bank failed to comply with. He emphasized the bank’s duty-bound obligation to disclose such information.
The Election Commission’s data revealed that Future Gaming and Hotel Services, the top purchaser of electoral bonds, donated ₹509 crore to Tamil Nadu’s ruling party DMK. While many political parties provided only a chronological breakdown of bond values encashed, ten recognized parties disclosed donor names and contributed amounts.
As per EC data, the ruling Bharatiya Janata Party (BJP) received the highest funds through electoral bonds at ₹6,986.5 crore since their introduction in 2018, followed by West Bengal’s Trinamool Congress, Congress, and Bharat Rashtra Samithi.
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