Transparency Mandate: SC Demands SBI’s Electoral Bond Expose
<p>In the city of New Delhi, the highest judicial authority, the Supreme Court, issued directives to the State Bank of India (SBI) on Monday. They mandated the submission of exhaustive information concerning electoral bonds to the Election Commission. Additionally, they instructed the SBI chairman to furnish a compliance affidavit by March 21. Under the leadership […]</p>
Transparency Mandate: SC Demands SBI’s Electoral Bond Expose
In the city of New Delhi, the highest judicial authority, the Supreme Court, issued directives to the State Bank of India (SBI) on Monday. They mandated the submission of exhaustive information concerning electoral bonds to the Election Commission. Additionally, they instructed the SBI chairman to furnish a compliance affidavit by March 21.
Under the leadership of Chief Justice of India, D Y Chandrachud, a bench comprising five judges delivered this directive. They emphasized that upon receiving the bond numbers, the Election Commission of India must expeditiously disclose the details on its official website. Furthermore, the apex court dismissed a plea requesting the SBI to divulge information about electoral bonds procured and redeemed prior to April 12, 2019.
The Supreme Court unequivocally stated that the SBI was obligated to divulge all particulars regarding the electoral bonds. They clarified that such information should encompass the alphanumeric numbers and any serial numbers associated with the redeemed bonds.
In the course of the hearing, the bench instructed the SBI to disclose every conceivable detail pertaining to electoral bonds, encompassing the bond numbers. “We have mandated the comprehensive disclosure of all particulars by the SBI, inclusive of the electoral bond numbers. Let the SBI not exercise selectivity in its disclosure,” the bench verbally articulated.
The apex court acknowledged the submissions of senior advocate Harish Salve, representing the SBI, asserting that the bank harbored no reservations in disclosing all information. To forestall any prospective disputes, “we direct the SBI Chairman to submit an affidavit by 5 pm on Thursday, affirming that the SBI has unveiled all particulars of the electoral bonds under its custody, with no information withheld,” the bench decreed. They further mandated the poll body to upload all the information furnished by the SBI.
During the proceedings, the Chief Justice made it abundantly clear to the SBI’s legal counsel that the court would brook no suppression of information concerning the bonds. “We demand the disclosure of all information pertaining to electoral bonds that resides within your purview,” affirmed the Chief Justice. The apex court was adjudicating a petition lodged against the SBI for furnishing “incomplete data” regarding donations made to political parties via electoral bonds.
Previously, the apex court had invalidated the electoral bond scheme and instructed the bank to disclose all details of donations made over the past five years. Prior to this directive, the Supreme Court had issued a notice to the SBI, admonishing that the data provided regarding electoral bonds was deficient.
