Electoral Bonds
Supreme Court asks SBI to share details of electoral bonds with ECI by tomorrow
New Delhi/IBNS: The Supreme Court on Monday directed the State Bank of India (SBI) to share the details of electoral bonds with the Election Commission of India (ECI) by Tuesday, rejecting the government-run bank's plea seeking time till June 30.
The top court has asked ECI to publish the details of electoral bonds on its website by 5 pm on Friday.
The court said it will initiate contempt proceedings against SBI if it fails to share the details with ECI by Tuesday.
In a historic judgment last month, the Supreme Court struck down the electoral bonds scheme, stating that it violated citizens' right to information.
The top court had directed the SBI to disclose the bonds by March 6.
The Election Commission of India was ordered to publish the details of the electoral bonds in its official website by March 13.
However, in an application in the Supreme Court, the nationalised bank had said it needed more time- till June end- to furnish details of the electoral bonds.
Chief Justice of India DY Chandrachud had said that the electoral bonds scheme was unconstitutional and arbitrary and may lead to a quid pro quo arrangement between political parties and donors.
The Constitution bench of five judges held that the stated objective of fighting black money and maintaining the confidentiality of donors cannot defend the scheme.
Electoral bonds, the court said, are not the only way to curb black money.
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