Electoral Bonds Verdict LIVE: SC Says Electoral Bonds Scheme Unconstitutional, Asks SBI To Furnish Details To EC
The Supreme Court said it has delivered a unanimous verdict on a batch of pleas challenging the legal validity of electoral bonds scheme which allows for anonymous funding to political parties.
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Background
The Supreme Court has ruled the electoral bonds scheme as unconstitutional and asked the State Bank of India to furnish details of bonds to the Election Commission, which will then make it public. Pronouncing the verdict, the CJI said the scheme is violative of freedom of speech and expression under Article 19(1)(a) of Constitution.
The apex court in a unanimous judgement struck down the legal validity of the electoral bonds scheme. A five-judge Constitution bench headed by Chief Justice DY Chandrachud had on November 2 last year reserved its verdict in the matter.
The verdict will be delivered at 10:30 am on Thursday by the Supreme Court bench headed by the Chief Justice.
The bench had earlier proposed exploring alternative systems for the funding of political parties while the flaws of the current system are ironed out. The electoral bonds scheme was launched in 2018, where the bonds was used as instruments that can be purchased by individuals or companies from banks to present to a political party, which can in turn use the same for donations.
The scheme was pitched as an alternative to cash donations made to political parties as part of efforts to bring in transparency in political funding.
As per the provisions of the scheme, electoral bonds may be purchased by an Indian citizen or entity incorporated or established in the country. An individual can buy electoral bonds, either singly or jointly with other individuals.
Only the political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than 1 per cent of the votes polled in the last elections to the Lok Sabha or a state legislative assembly are eligible to receive electoral bonds.
In April 2019, the SC had declined to stay the electoral bonds scheme and made it clear that it would accord an in-depth hearing on the pleas as the Centre and the EC had raised weighty issues that had tremendous bearing on the sanctity of the electoral process in the country.
The Constitution bench had on October 31 last year commenced hearing arguments on the four petitions filed by Congress leader Jaya Thakur, the Communist Party of India (Marxist) and NGO Association for Democratic Reforms (ADR).
Electoral Bonds Violative Of Right To Information: SC Top Quotes
Chief Justice DY Chandrachud said the electoral bonds scheme violates the right to information of citizens adding that the citizens have the right to hold government to account. The Chief Justice said the infringement to the right to information is not justified by the purpose of curbing black money.
SC Asks SBI To Furnish Details Of Electoral Bonds To Election Commission
The Supreme Court has directed the State Bank of India to stop issuing Electoral Bonds immediately and submit all details to the Election Commission by March 6. The EC will make all donations public within one week of the receipt of the information. All Electoral Bonds within the 15-day validity period shall be returned by political parties to the purchasers.
Chief Justice Says SBI To Furnish Details Of Electoral Bonds To Election Commission
The Chief Justice has said that SBI shall furnish all the details of electoral bonds encashed by all political parties. SBI will submit the details of the bonds encashed to the Election Commission and then the EC shall publish the details on the website by March 31.
SC Says Right To Privacy Does Not Extend To Contributions Made to Influence Policy
The Supreme Court has said that the right to privacy does not extend to contributions made to influence policy and that the government has not been able to establish that electoral bonds are the least restrictive means of polticial funding, with respect to Right to Information.
Electoral Bonds Scheme Has To Be Struck Down As Unconstitutional, Says CJI
Electoral bonds scheme has to be struck down as unconstitutional, the Chief Justice of India said.
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