Supreme Court Orders Full Disclosure of Electoral Bond Details By SBI; Sets New Deadline

The Supreme Court of India has issued a directive to the State Bank of India (SBI), emphasizing the importance of full disclosure regarding electoral bonds. In a hearing on Monday, the apex court instructed the SBI to provide comprehensive details of electoral bonds, including unique bond numbers, to the Election Commission by March 21. Furthermore, the court ordered the chairman of the bank to submit a compliance affidavit by the same deadline.

A five-judge bench led by Chief Justice D.Y. Chandrachud underscored the necessity for the SBI to reveal all conceivable details related to electoral bonds in its possession, particularly the bond numbers that establish a connection between the buyer and the recipient political party. The court made it clear that the bank should not withhold any information pending further orders.

Expressing a firm stance, the bench, consisting of Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra, emphasized the need for complete transparency, stating, “We had asked all details to be disclosed by the SBI which includes electoral bond numbers as well. Let SBI not be selective in disclosure.”

Senior advocate Harish Salve, representing the SBI, assured the court that the bank would provide all necessary information as directed. He stressed the bank’s commitment to comply with the court’s orders promptly.

In response, the Supreme Court insisted that the SBI should submit an affidavit affirming that no information has been suppressed. Solicitor General Tushar Mehta, representing the Centre, reiterated that the electoral bonds scheme was established to combat black money in politics. He expressed concern over the scrutiny surrounding the details and urged the court to address the issue.

Chief Justice DY Chandrachud reaffirmed the judiciary’s commitment to upholding the rule of law and the Constitution, stating, “As judges, we are only enforcing our directions of judgment.”

Regarding the disclosure of donor and beneficiary information, the SBI has disclosed the names of donors and recipients in two installments. The Bharatiya Janata Party (BJP) has been identified as the primary beneficiary, followed by the Trinamool Congress, the Indian National Congress, and the Bahujan Samaj Party (BRS). However, the specifics of who donated to whom have not been revealed, except for the Dravida Munnetra Kazhagam (DMK), which disclosed the breakdown of donations.

Also Read: Election Commission Releases Second List Of Electoral Bonds Data As Directed By Supreme Court