In a significant ruling, the Supreme Court unanimously deemed the amendments introducing the electoral bonds scheme unconstitutional. The scheme, enabling anonymous funding to political parties, faced a barrage of legal challenges. Led by Chief Justice of India D Y Chandrachud, the Constitution Bench directed the issuing bank to cease bond issuance and mandated the State Bank of India (SBI) to furnish details of bond purchases to the Election Commission of India (ECI) since April 12, 2019.
The court meticulously analyzed specific sections of the Representation of People Act and the Companies Act, as amended, highlighting constitutional infringements. It emphasized the arbitrary nature of allowing unlimited corporate contributions, which erode the essence of free and fair elections.
The verdict underscores the critical role of transparency and accountability in electoral processes. SBI’s submission of bond details to the ECI by March 6, 2024, and the subsequent publication of this information on the ECI’s website by March 13, 2024, signifies a significant step towards promoting transparency in political funding and upholding democratic principles.
NewsHamster
In a significant ruling, the Supreme Court unanimously deemed the amendments introducing the electoral bonds scheme unconstitutional. The scheme, enabling anonymous funding to political parties, faced a barrage of legal challenges. Led by Chief Justice of India D Y Chandrachud, the Constitution Bench directed the issuing bank to cease bond issuance and mandated the State Bank of India (SBI) to furnish details of bond purchases to the Election Commission of India (ECI) since April 12, 2019.
The court meticulously analyzed specific sections of the Representation of People Act and the Companies Act, as amended, highlighting constitutional infringements. It emphasized the arbitrary nature of allowing unlimited corporate contributions, which erode the essence of free and fair elections.
The verdict underscores the critical role of transparency and accountability in electoral processes. SBI’s submission of bond details to the ECI by March 6, 2024, and the subsequent publication of this information on the ECI’s website by March 13, 2024, signifies a significant step towards promoting transparency in political funding and upholding democratic principles.
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1 year ago | [YT] | 2