National Desk, 15th February: The Supreme Court of India on February 15 delivered a unanimous verdict on a series of petitions challenging the Constitutional validity of the Central government’s Electoral Bond scheme, which allows for anonymous funding to political parties.
Chief Justice of India DY Chandrachud, along with Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra, heard the case and reserved the verdict on November 2 last year.
In its ruling, the Supreme Court declared the Electoral Bond scheme unconstitutional. CJI Chandrachud emphasized the importance of transparency in the electoral process, stating that political parties are crucial entities in elections, and information about their funding is essential for making informed electoral decisions.
The apex court further asserted that the infringement of the Right to Information cannot be justified in the name of curbing black money. It mandated the disclosure of information about corporate contributors through Electoral Bonds, as donations from companies are often made with expectations of favors in return.
During the proceedings, the bench raised significant questions regarding the scheme’s “selective anonymity” and its potential to legalize kickbacks for political parties. Concerns were also raised about the removal of a condition restricting companies from donating more than 7.5% of their net profits to political parties.
At the conclusion of the hearing, the bench directed the Election Commission of India to submit details of contributions received by all political parties through electoral bonds until September 30 in a sealed envelope to the Court, highlighting the gravity of the issue.
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