The Supreme Court dismissed the State Bank of India’s petition seeking an extension of time till June 30 to disclose details on electoral bonds. Pulling up the SBI for “wilful disobedience”, the Supreme Court asked the bank to disclose the details by the close of business hours on March 12.
The Supreme Court said the SBI only had to open the sealed cover, collate the details and give the information to the Election Commission. The development comes just weeks ahead of Lok Sabha elections.
All eyes were on the Supreme Court on Monday, March 11, as it heard the application filed by the State Bank of India (SBI) seeking an extension till June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month.
The Congress hailed the Supreme Court for dismissing the SBI’s plea seeking an extension of time to furnish details of electoral bonds, saying the apex court has once again come to protect democracy from the “devious machinations” of the current regime.
A five-judge Constitution bench headed by Chief Justice of India DY Chandrachud heard a separate petition seeking initiation of contempt action against the SBI alleging that it “wilfully and deliberately” disobeyed the top court’s direction to submit details of the contributions made to political parties through electoral bonds to the Election Commission of India by March 6.
Earlier on February 15, a five-judge constitution bench invalidated the Centre’s electoral bonds scheme, deeming it “unconstitutional,” and mandated the Election Commission of India (ECI) to disclose donor information, donation amounts, and recipients by March 13.
Subsequently, the court directed the SBI, the designated financial institution for the scheme, to furnish details of electoral bonds purchased from April 12, 2019, onward to the ECI by March 6.
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