Supreme Court rebuked the State Bank of India (SBI) for its delay in complying with the court's directive to disclose electoral bond donor details to the Election Commission of India (ECI) by March 6. During the hearing, the five-judge Constitution bench, led by Chief Justice of India DY Chandrachud, expressed dismay over SBI's inaction in the past 26 days and demanded an explanation for the delay. The bench emphasized the paramount importance of transparency in political funding, especially in the run-up to the crucial Lok Sabha elections.
The contentious issue emerged during the proceedings, with the bench questioning the rationale behind SBI's request for an extension until June 30 to reveal the details of encashed electoral bonds. The court underscored the urgency of the matter and reiterated its earlier directive for a "plain disclosure" of donor information, as per the court's judgment.
The case gained prominence following a landmark verdict on February 15, where a five-judge constitution bench invalidated the electoral bonds scheme introduced by the Centre, deeming it "unconstitutional." The court mandated the ECI to disclose donor information, donation amounts, and recipients by March 13, setting a precedent for transparency in political funding.
Subsequently, the court directed the SBI, designated as the financial institution for the scheme, to furnish details of electoral bonds purchased from April 12, 2019, onwards to the ECI by March 6. However, the SBI's plea for an extension, citing logistical challenges in data retrieval, was met with skepticism by the bench.
In addition, a separate plea filed by NGOs Association for Democratic Reforms and Common Cause urged the court to initiate contempt proceedings against the SBI for allegedly flouting the apex court's order. The petition argued that any form of anonymity in political finances undermines the essence of participatory democracy and citizens' right to information, as enshrined in Article 19(1)(a) of the Constitution.
The ongoing hearing underscores the broader debate surrounding electoral transparency and accountability, with the Supreme Court playing a pivotal role in upholding the integrity of the democratic process. As the proceedings continue, stakeholders await further directives from the apex court regarding electoral bond disclosures, with far-reaching implications for India's democratic ethos.
(With inputs from PTI)
UPDATE-
The Supreme Court on Monday rejected the State Bank of India's (SBI) plea seeking more time to furnish the details of Electoral Bonds to the Election Commission and ordered the country's biggest bank to submit the same by the business hours of March 12, Tuesday. The apex court also ordered the poll panel to put the information on its website by 5 pm, March 15.