New Delhi300C
Tuesday, Apr 16, 2024
IPL 2024

Electoral bonds verdict Highlights: Supreme Court deems EB scheme ‘violative of right to information’

Electoral bonds case Highlights: Supreme Court struck down the EB scheme, deeming it unconstitutional.
Supreme Court on Thursday will deliver its verdict on Electoral Bond (EB) scheme. (ANI)
Supreme Court on Thursday will deliver its verdict on Electoral Bond (EB) scheme. (ANI)

Electoral bonds case Highlights: The Supreme Court on Thursday delivered its verdict on the electoral bonds case, striking down the scheme after deeming it unconstitutional. A five-judge constitutional bench, headed by CJI Chandrachud, had earlier proposed exploring alternative systems for the funding of political parties while the flaws of the current system are ironed out....Read More

The financial scheme was launched in 2018, where electoral bonds were used as instruments that can be purchased by individuals or companies from banks to present to a political party, which can in turn redeem the same for funds and donations.

The electoral bonds scheme was pitched as an alternative to cash donations made to political parties as part of efforts to bring in transparency to political funding.

According to the provisions of the scheme, only the political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than 1 per cent of the votes polled in the last elections to the Lok Sabha or a state legislative assembly are eligible to receive electoral bonds.

Key highlights from Supreme Court verdict -

A five-judge bench of Chief Justice of Inda DY Chandrachud, Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra delivered a unanimous verdict on Thursday, striking down the Electoral Bonds scheme as unconstitutional.

Two verdicts were delivered by the Supreme Court today, both reaching the same conclusion but slightly different observations.

The CJI while reading out his judgement said that the Supreme Court holds that anonymous electoral bonds are violative of Right to Information and Article 19(1)(a).

The Supreme Court further asked the State Bank of India to stop issuing electoral bonds, asking the bank to disclose all information to the Election Commission of India.

The Supreme Court said that information about corporate contributors through Electoral Bonds must be disclosed as the donations by companies are purely for quid pro quo purposes.

Follow all the updates here:
Feb 15, 2024 3:12 PM IST

Electoral bonds scheme LIVE updates: Congress hails SC verdict

The Congress on Thursday welcomed the Supreme Court verdict striking down the electoral bonds scheme, and said that it will reinforce the power of votes over notes.

The opposition party also said that it hopes that the Modi Government will stop resorting to such "mischievous ideas" in the future and listen to the Supreme Court so that democracy, transparency and level-playing field persist. (PTI)

Feb 15, 2024 2:24 PM IST

Electoral bonds scheme LIVE updates: Maha opposition slams BJP

Electoral Bonds Verdict live Updates: The ruling Bharatiya Janata Party was the only outfit that benefited from electoral bonds, said opposition parties in Maharashtra on Thursday after the Supreme Court struck down the political funding scheme, calling it "unconstitutional".

Feb 15, 2024 2:06 PM IST

Electoral bonds case LIVE updates: Chidambaram on SC verdict

Senior Congress leader and former finance minister P Chidambaram on Thursday hailed the Supreme Court's striking down of the electoral bond scheme, saying it is a great victory for transparency, the right to know and level playing field in elections.

Feb 15, 2024 1:45 PM IST

Electoral bonds case LIVE updates: Kharge on SC verdict

Congress president Mallikarjun Kharge on Thursday welcomed the Supreme Court decision to strike down the electoral bonds scheme and hoped the government will stop resorting to "such mischievous ideas" in the future.

He said the Congress party had called the scheme "opaque and undemocratic" when it was launched. (PTI)

Feb 15, 2024 1:22 PM IST

Electoral bonds case LIVE updates: Rahul Gandhi attacks PM Modi

Another proof of Narendra Modi's corrupt policies is in front of you. BJP had made electoral bonds a medium for taking bribe and commission. Today this matter has been approved," Rahul Gandhi posted in Hindi on X.

Feb 15, 2024 1:03 PM IST

Electoral bonds case LIVE updates: NCP welcomes SC verdict

The Sharad Pawar-led NCP faction on Thursday said the Supreme Court's decision to strike down the electoral bonds scheme is a welcome move and there should be transparency and accountability of every donation that comes to a political party. (PTI)

Feb 15, 2024 12:29 PM IST

Electoral bonds case LIVE updates: SBI to transfer info to ECI

The Election Commission should publish the information shared by SBI on its official website by March 13, the Supreme Court bench said.

Feb 15, 2024 11:55 AM IST

Electoral bonds case LIVE updates: Bonds to be returned

The Supreme Court has directed that all the electoral bonds that have not been encashed should be returned to the banks.

Feb 15, 2024 11:44 AM IST

Electoral bonds case LIVE updates: Jairam Ramesh on SC verdict

Congress leader Jairam Ramesh said, “The Supreme Court has held the much-touted Electoral Bonds scheme of the Modi Sarkar as violative of both laws passed by Parliament as well as the Constitution of India. The long-awaited verdict is hugely welcome and will reinforce the power of votes over notes. The Modi Sarkar has been inflicting ANYAY upon ANYAY on the Annadatas while privileging the Chandadatas.”

Feb 15, 2024 11:30 AM IST

Electoral bonds case LIVE updates: Prashant Bhushan on verdict

Advocate Prashant Bhushan on EB scheme verdict, "In a very significant judgement which will have a long-term effect on our electoral democracy, the Supreme Court has struck down the Electoral Bond Scheme and all the provisions that were made to bring it into effect in the income tax act, in the companies act etc. everything has been struck down. They have held that this violates the fundamental right to information of citizens to know about who is contributing this much money to political parties,

Feb 15, 2024 11:21 AM IST

Electoral bonds case LIVE updates: ‘EB scheme is unconstitutional’

The Supreme Court struck down Electoral Bonds scheme, deeming the scheme as unconstitutional.

Feb 15, 2024 11:10 AM IST

Electoral bonds case LIVE updates: SC asks SBI to stop issuing EB

The Supreme Court has asked the State Bank of India to stop issuing all electoral bonds, and to submit all the details to the Election Commission of India (ECI).

Feb 15, 2024 11:02 AM IST

Electoral bonds case LIVE updates: SC asks EB information to be disclosed

Supreme Court says information about corporate contributors through Electoral Bonds must be disclosed as the donations by companies are purely for quid pro quo purposes. (ANI)

Feb 15, 2024 10:59 AM IST

Electoral bonds case LIVE updates: ‘Constitution does not turn blind eye…’

CJI Chandrachud said, “Constitution does not turn a blind eye only because there is a possibility of misuse. We have use the double proportionality standard. Clause 7(4) of the scheme tilts the balance is favour of informational privacy because it grants anonymity to the contributors but there is no nexus to balancing measures adopted.”

Feb 15, 2024 10:55 AM IST

Electoral bonds case LIVE updates: ‘Scheme not proportionally justified’

CJI said during the verdict, “We are of the opinion that least restrictive means test is not satisfied.. there are other means other than electoral bonds to achieve that purpose. contribution by other means of electronic transfer and electoral trusts is other restrictive means. Thus curbing black money is not a ground for electoral bonds.”

Feb 15, 2024 10:53 AM IST

Electoral bonds case LIVE updates: ‘Scheme violates RTI’

The Supreme Court holds that the Electoral Bonds scheme violates the Right to Information.

Feb 15, 2024 10:45 AM IST

Electoral bonds case LIVE updates: Unanimous decision by SC

CJI Chandrachud says, “We have arrived at a unanimous decision. There are two opinions, one by myself and another by Justice Sanjiv Khanna. Both arrive at same conclusion. There is a slight variance in the reasoning.”

Feb 15, 2024 10:43 AM IST

Electoral bonds case LIVE updates: Two separate judgements

Two separate judgments are to be delivered in the Electoral Bonds case. CJI DY Chandrachud and Justice Sanjiv Khanna have penned their separate but unanimous judgments.

Feb 15, 2024 10:41 AM IST

Electoral bonds case LIVE updates: SC bench assembles

The Supreme Court bench has assembled to deliver the verdict on the electoral bonds scheme.

Feb 15, 2024 10:38 AM IST

Electoral bonds case LIVE updates: Bench yet to assemble

The five judge bench of the Supreme Court - led by CJI DY Chandrachud, and comprising Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra - is yet to assemble.

Feb 15, 2024 10:32 AM IST

Electoral bonds case LIVE updates: ‘Scheme completely transparent’

After the case was filed, the Centre released its response affidavit rejecting all the allegations of potential corruption, saying that there is complete transparency in the electoral bonds scheme.

Feb 15, 2024 10:17 AM IST

Electoral bonds case LIVE updates: Verdict shortly

The verdict on the electoral bonds case is expected to be announced shortly, at 10:30 am, by the Supreme Court today.

Feb 15, 2024 10:06 AM IST

Electoral bonds case LIVE updates: BJP got ₹1300 cr through scheme

The ruling BJP received nearly 1300 crore through electoral bonds in the 2022-23, which was seven times more than what the Congress got in the same period through the same route.

The BJP's total contributions stood at 2120 crore in the 2022-23 fiscal, of which 61 per cent came from electoral bonds, according to the party's annual audited report submitted to the Election Commission. (PTI)

Feb 15, 2024 9:56 AM IST

Electoral bonds case LIVE updates: CPIM slams scheme for ‘political corruption’

Communist Party of India (Marxist) general secretary Sitaram Yechury on Tuesday likened the electoral bond scheme to the "legalisation of political corruption" and hoped that the Supreme Court would soon deliver its verdict on pleas to scrap the scheme.

Feb 15, 2024 9:45 AM IST

Electoral bonds case LIVE updates: Petitioner's case

The petitioners who filed a plea against the Electoral Bonds stated that the scheme promoted corruption and steps on the citizens' right to information about political party funding.

Feb 15, 2024 9:32 AM IST

Electoral bonds case LIVE updates: Bonds worth ₹571 cr sold in Jan

A total of 897 electoral bonds worth 571.8 crore were sold between January 2 and 11, with Kolkata having the highest share of 32.17% (415 bonds) worth 183.95 crore, the State Bank of India (SBI) said in a response to a right to information (RTI) request by commodore Lokesh Batra (retd). Read more

Feb 15, 2024 9:17 AM IST

Electoral bonds case LIVE updates: Argument against poll funding

Shortly after the scheme was announced, several petitions were filed in the Supreme Court, including those filed by CPI(M), Congress, and some NGOs, against the constitutional validity of the electoral bonds scheme. Read more.

Feb 15, 2024 9:08 AM IST

Electoral bonds case LIVE updates: Centre's response on case

The Centre in an affidavit had said that the methodology of the Electoral Bonds scheme are "completely transparent" mode of political funding and it is impossible to get black money or unaccounted money.

Feb 15, 2024 8:53 AM IST

Electoral bonds case LIVE updates: What are electoral bonds?

An Electoral Bond is an instrument in the nature of a promissory note or bearer bond which can be purchased by any individual, company, firm or association of persons provided the person or body is a citizen of India or incorporated or established in India. The bonds are issued specifically for the purpose of contribution of funds to political parties.

Feb 15, 2024 8:38 AM IST

Electoral bonds case LIVE updates: DY Chandrachud in last hearing

During the last hearing of the case, CJI Chandrachud proposed the usage of an alternative of electoral bonds scheme till the time all the flaws in the current system are detected.

Feb 15, 2024 8:19 AM IST

Electoral bonds case LIVE updates: Verdict today

The Supreme Court bench, headed by CJI DY Chandrachud, is scheduled to announce the verdict of the case at 10:30 am today, February 15.

Feb 15, 2024 9:32 AM IST

Electoral bonds case LIVE updates: Bonds worth ₹571 cr sold in Jan

A total of 897 electoral bonds worth 571.8 crore were sold between January 2 and 11, with Kolkata having the highest share of 32.17% (415 bonds) worth 183.95 crore, the State Bank of India (SBI) said in a response to a right to information (RTI) request by commodore Lokesh Batra (retd). Read more

Feb 15, 2024 9:17 AM IST

Electoral bonds case LIVE updates: Argument against poll funding

Shortly after the scheme was announced, several petitions were filed in the Supreme Court, including those filed by CPI(M), Congress, and some NGOs, against the constitutional validity of the electoral bonds scheme. Read more.

Feb 15, 2024 9:08 AM IST

Electoral bonds case LIVE updates: Centre's response on case

The Centre in an affidavit had said that the methodology of the Electoral Bonds scheme are "completely transparent" mode of political funding and it is impossible to get black money or unaccounted money.

Feb 15, 2024 8:53 AM IST

Electoral bonds case LIVE updates: What are electoral bonds?

An Electoral Bond is an instrument in the nature of a promissory note or bearer bond which can be purchased by any individual, company, firm or association of persons provided the person or body is a citizen of India or incorporated or established in India. The bonds are issued specifically for the purpose of contribution of funds to political parties.

Feb 15, 2024 8:38 AM IST

Electoral bonds case LIVE updates: DY Chandrachud in last hearing

During the last hearing of the case, CJI Chandrachud proposed the usage of an alternative of electoral bonds scheme till the time all the flaws in the current system are detected.

Feb 15, 2024 8:19 AM IST

Electoral bonds case LIVE updates: Verdict today

The Supreme Court bench, headed by CJI DY Chandrachud, is scheduled to announce the verdict of the case at 10:30 am today, February 15.

News india news Electoral bonds verdict Highlights: Supreme Court deems EB scheme ‘violative of right to information’