New Delhi: The Supreme Court has dismissed the plea seeking the formation of an SIT to look into alleged scams connected with the Electoral Bonds Scheme, which should be under judicial monitoring. This agreement, which was annulled by the court on February 15, was objected to for its obscurity in electoral financing.
The petition filed by two nongovernmental organizations (NGOs) claimed that this was an apparent quid pro quo between political parties, corporations, and investigative agencies. The NGOs dubbed the electoral bonds scheme a ‘scam’ and wanted a vigorous probe into the source of the funding received from the ‘shell companies and loss-making firms’ that make donations to political parties. An analysis based on the data from the EC showed the same.
The scheme of electoral bonds came under the scanner of the Supreme Court, which, on February 15, passed a judgment that termed them unconstitutional. In a five-judge constitutional bench, the Dalai Lama ordered that the scheme infringed Article 19(1)(a) of the Indian Constitution, asserting citizens’ right to information. The court stressed that the voters have to make informed decisions when casting their votes, and this principle applies to political party funding. The bench observed that while the Electoral bonds scheme was not as outrageous as the main scams, such as the 2G spectrum case or the scandalous coal mining leases where at least the money trail was discovered, the same could not be said of the Electoral bonds scheme.
Electoral bonds were floated in 2018 in India as a measure claimed to be more transparent than infusing money into political parties. However, the plea alleged that several firms under investigation by various government agencies had contributed significantly to the ruling party’s campaign funds, holding the agencies to ransom.
Even though the court chose not to accept the SIT probe on the scheme, the issue in question raises questions and remains sensitive concerning political financing and its disclosure. This is why the ruling should, in fact, encourage more attention and revision in political funding practices to minimize, when not eradicate, misuse.
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