SC directs EC to disclose data on all donations received through electoral bonds
The apex court directed the EC to disclose the data of all donations that have come through electoral bonds
- Nov 2, 2023,
- Updated Nov 2, 2023 7:57 PM IST
The Supreme Court (SC) has directed the Election Commission (EC) to disclose the data of all donations that have come through electoral bonds, a lawyer, who has challenged the scheme in the court, said on Thursday. "Electoral Bond Scheme violates the fundamental rights of the citizens," the lawyer, Varun Thakur, said. "The Supreme Court directed the EC to disclose the data of all donations that have come through electoral bonds."
The Electoral Bonds Scheme, a financial mechanism to enable donations to political parties, was introduced by former finance minister Arun Jaitley. Under the scheme, the donor's identity is not revealed. For this and other reasons, the scheme was challenged in the top court. The top court, after hearing the matter, reserved its verdict on Thursday.
During the hearing on Wednesday, the SC said that the problem with the electoral bonds scheme is that it provides for "selective anonymity" and "selective confidentiality" as the details are available with the State Bank of India (SBI) and can also be accessed by law enforcement agencies.
A five-judge constitution bench headed by Chief Justice D Y Chandrachud observed the problem with the scheme would lie if it does not provide a level playing field to political parties and if it suffers from opacity.
While hearing arguments on a batch of pleas challenging the validity of the electoral bonds scheme for funding political parties, the apex court said the motive behind the scheme may be perfectly laudable but in an effort to bring in white money into the electoral process, it essentially provides for a "complete information hole".
"The problem with the scheme is it provides for selective anonymity. It is not completely anonymous. It provides for selective anonymity, selective confidentiality…. it is not confidential qua the State Bank of India. It is not confidential qua the law enforcement agencies," the bench said.
Under the scheme, electoral bonds can be issued or purchased from some authorised branches of the SBI. "Your argument that look if you were to strike down the scheme, you will go to a situation which existed prior...that may not be valid for the reason that we are not precluding the government from coming out with a transparent scheme or a scheme which has a level playing field," the CJI observed.
The CJI said a big donor would never take the risk of buying electoral bonds for the purpose of tendering it to political parties and never put his or her head on the line by being in the books of account of the SBI. He said a big donor may disaggregate the donation to people who will purchase electoral bonds with small amounts through the official banking channel and not through cash.
(With inputs from PTI)
The Supreme Court (SC) has directed the Election Commission (EC) to disclose the data of all donations that have come through electoral bonds, a lawyer, who has challenged the scheme in the court, said on Thursday. "Electoral Bond Scheme violates the fundamental rights of the citizens," the lawyer, Varun Thakur, said. "The Supreme Court directed the EC to disclose the data of all donations that have come through electoral bonds."
The Electoral Bonds Scheme, a financial mechanism to enable donations to political parties, was introduced by former finance minister Arun Jaitley. Under the scheme, the donor's identity is not revealed. For this and other reasons, the scheme was challenged in the top court. The top court, after hearing the matter, reserved its verdict on Thursday.
During the hearing on Wednesday, the SC said that the problem with the electoral bonds scheme is that it provides for "selective anonymity" and "selective confidentiality" as the details are available with the State Bank of India (SBI) and can also be accessed by law enforcement agencies.
A five-judge constitution bench headed by Chief Justice D Y Chandrachud observed the problem with the scheme would lie if it does not provide a level playing field to political parties and if it suffers from opacity.
While hearing arguments on a batch of pleas challenging the validity of the electoral bonds scheme for funding political parties, the apex court said the motive behind the scheme may be perfectly laudable but in an effort to bring in white money into the electoral process, it essentially provides for a "complete information hole".
"The problem with the scheme is it provides for selective anonymity. It is not completely anonymous. It provides for selective anonymity, selective confidentiality…. it is not confidential qua the State Bank of India. It is not confidential qua the law enforcement agencies," the bench said.
Under the scheme, electoral bonds can be issued or purchased from some authorised branches of the SBI. "Your argument that look if you were to strike down the scheme, you will go to a situation which existed prior...that may not be valid for the reason that we are not precluding the government from coming out with a transparent scheme or a scheme which has a level playing field," the CJI observed.
The CJI said a big donor would never take the risk of buying electoral bonds for the purpose of tendering it to political parties and never put his or her head on the line by being in the books of account of the SBI. He said a big donor may disaggregate the donation to people who will purchase electoral bonds with small amounts through the official banking channel and not through cash.
(With inputs from PTI)