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In a significant development regarding the electoral bonds case, the Supreme Court has directed the State Bank of India (SBI) to disclose all conceivable details related to electoral bonds, including the alphanumeric numbers corresponding to each electoral bond. The apex court’s directive, pronounced on Monday, emphasizes the necessity for transparency in electoral funding processes.
The Court’s decision stems from its February 15 judgment, which mandated the SBI to unveil “all details” concerning electoral bonds, such as the date of purchase/redemption, purchaser/recipient names, and denominations. Notably, the use of the term “including” in the judgment signifies that the listed details are illustrative, not exhaustive. Moreover, the Court underscored the obligation of the Election Commission of India (ECI) to promptly upload the received details from the SBI onto its website.
This latest directive marks a crucial advancement in the court-ordered disclosure process regarding electoral bond details following a constitutional bench ruling that deemed the electoral bonds scheme unconstitutional. Previously, the apex court dismissed an application by the SBI for an extension to furnish electoral bond details, prompting the bank to comply with the directive by providing the details to the ECI.
The disclosed information was segmented into two packets: one containing purchaser details and the other listing political parties that encashed the bonds, each packet including requisite particulars. Last week, a bench comprising Chief Justice DY Chandrachud and Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra reconvened to address an application filed by the Election Commission of India. The commission sought the return of sealed envelopes containing electoral bond details previously furnished to the apex court, citing confidentiality concerns.
During the hearing, the five-judge bench reiterated the imperative for the SBI to divulge alphanumeric numbers corresponding to each electoral bond alongside the previously disclosed purchase and redemption details. Consequently, the Court issued notice to the SBI and scheduled further proceedings for Monday, March 18.
The Court’s insistence on transparency underscores the significance of upholding accountability in electoral funding mechanisms. By mandating comprehensive disclosure of electoral bond records, including alphanumeric identifiers, the Court reinforces democratic principles and strives towards ensuring fair and transparent electoral processes.
Overall, the Supreme Court’s recent directive demanding the SBI’s disclosure of complete electoral bond records, including alphanumeric IDs, represents a pivotal stride towards transparency and accountability in electoral funding. The Court’s unwavering commitment to upholding democratic values underscores the importance of transparency in electoral processes, thereby bolstering public trust and confidence in the integrity of democratic institutions.
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