India

Supreme Court Denies SBI Request for Electoral Bond Deadline Extension, Demands Details by Tomorrow

The Supreme Court has dismissed the State Bank of India’s (SBI) plea for an extension until June 30 to disclose details of electoral bonds encashed by political parties. Instead, the court has instructed SBI to provide the information by the close of business hours on March 12. Additionally, it has directed the Election Commission (EC) to publish these details on its website by March 15.

Chief Justice of India DY Chandrachud emphasized that the information sought by the court is readily available based on the submissions made by SBI in its application. Therefore, the request for an extension was dismissed.

Senior advocate Harish Salve, representing SBI, had argued that collating the information required reversing the entire process and expressed concerns about the confidentiality of the data. However, Justice Sanjiv Khanna countered this, stating that SBI simply needs to open the sealed cover, compile the details, and provide the information.

Also read: PM Modi-Led Panel Set to Meet For Key Election Commissioner Selection Amidst Vacancy and 2024 Poll Preparations

The Supreme Court’s decision follows its earlier ruling on February 15, where a five-judge Constitution Bench declared the electoral bonds scheme unconstitutional. The court had instructed SBI to furnish details of donors, donation amounts, and recipients to the EC by March 6, with the EC directed to publish the information by March 13.

During the proceedings, the CJI pointed out that as per Clause 7(4) of the electoral bonds scheme, SBI is mandated to disclose information upon demand or in case of law enforcement agency investigations.

This latest development underscores the ongoing scrutiny surrounding electoral funding transparency in India.

Kavya Bhatt

Recent Posts

Mallikarjun Kharge Slams ‘Batenge Toh Katenge’ Slogan During Jharkhand Campaign

Kharge emphasized that the BJP leaders promote divisive rhetoric as part of their agenda. He…

38 mins ago

Police Arrest Two In Fake Marriage Certificate Racket In Name Of Arya Samaj

DCP Nagar Abhishek Bharti revealed that five couples, including Shivani and Shrikant Yadav, recently filed…

1 hour ago

India And Nigeria Strengthen Counter-Terrorism Cooperation In Second Strategic Dialogue

Doval and Ribadu held detailed talks on challenges linked to terrorism and radicalization, including those…

2 hours ago

Ola Electric’s Share Hits All-Time Low Of Rs 74 Ahead Of Q2 Results

Analysts predict that the stock could drop closer to the Rs 70 mark. Ola Electric…

3 hours ago

US Election: Voting Begins With First Ballots Cast In New Hampshire

This election is one of the most divisive in US history. Harris and Trump have…

3 hours ago

Waqf Bill: Opposition MPs Meet LS Speaker, Lodge Protest Against JPC Chairman Jagdambika Pal

Opposition members alleged that Pal calls JPC meetings without consulting them and restricts their opportunity…

3 hours ago