Petition Filed In SC Seeking Formation Of SIT To Probe Electoral Bonds Issued Ahead Of Lok Sabha Elections

A petition has been filed seeking formation of SIT to investigate electoral bonds. Supreme Court Justice Sanjeev Khanna said that this matter is with the CJI. CJI will take a decision on hearing this soon. The petition has demanded a SIT investigation into the nexus between corporates and political parties through electoral bonds.

The petition also said that data disclosed on electoral bonds indicates that at least 20 companies purchased electoral bonds worth more than Rs 100 crore within three years of their incorporation even when the companies were only a few months old.

Due to which the provisions of the Companies Act have been violated. The petition filed by NGO Common Cause said that the data revealed that various loss-making companies and shell companies were donating huge amounts to political parties through electoral bonds and the introduction of RTI led to an increase in number of shell companies, which were used by corporate houses to launder illegal money.

The shell petition to the authorities states that a detailed investigation should be conducted into the facts that have been revealed through the electoral bond data. It has also been said in the petition that if the investigation reveals that the money given by companies to political parties has been earned through crime, then instructions should be given to authorities to recover the same from various parties.

In a historic decision on February 15, the Supreme Court had rejected electoral bonds, a scheme for donations to political parties. While canceling the electoral bond scheme, the Supreme Court had asked Election Commission to make all the details related to encashing of electoral bonds public. Along with this, the Supreme Court had banned the issuance of new bonds from SBI.

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