Supreme Court rejects extension, orders electoral bond details by 12th March

The Supreme Court has rejected the State Bank of India's (SBI) request for more time and directed them to furnish details of electoral bonds to the Election Commission of India by the close of business on 12th March 2024.

A five-judge bench led by Chief Justice D.Y. Chandrachud also ordered the Election Commission to publish this information on their website by 5 pm on 15th March. This comes after the SBI sought an extension until June 30th to disclose the details.

On 15th February, the Supreme Court scrapped the electoral bond scheme and mandated the Election Commission to make donor information public by 13th March. This decision was based on findings of violations of the Representation of People Act, 1951, and the Companies Act, as amended by the Finance Act of 2017, which were deemed unconstitutional due to arbitrary changes, particularly concerning corporate contributions, and their potential for undue influence and corruption in the electoral process.

 

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