Right to Information Prevails: Supreme Court Ends Electoral Bond Scheme Anonymity.
11 March 2024
Elections Law >> Constitution & Law Procedure | RTI – Right to Information >> Miscellaneous
Background: Implemented in 2018, the Electoral Bond Scheme aimed to facilitate anonymous donations to political parties through the purchase of bonds at designated SBI branches. However, the Court's judgment determined that this anonymity contravened the principles of transparency fundamental to a well-functioning democracy.
Reasoning: The Court emphasized the paramount importance of the right to information under Article 19(1)(a) of the Constitution. This right, the Court held, necessitated the disclosure of both the identities of donors who purchased the bonds and the political parties that redeemed them.
Disclosure Order: SBI initially sought an extension of time to comply with the Court's disclosure order. The bank argued that the process of matching donor information with corresponding redemption details was complex and time-consuming. The Court, however, rejected this request, finding that the requisite information was readily available within SBI's own records. Consequently, a strict deadline of March 12, 2024, was imposed upon SBI for the complete disclosure of the aforementioned details. The Election Commission of India (ECI) was then obligated to publish this information on its official website by no later than March 15, 2024.
Further Disclosure: The judgment further mandated the ECI to publish details concerning political party funding previously collected pursuant to an interim order. This comprehensive disclosure of financial transactions is poised to significantly enhance transparency in the realm of political funding within India.
Contempt Warning: The Court issued a stern warning to SBI, highlighting the potential consequences of non-compliance with the Court's directives, including charges of contempt of court.
Holding: The Supreme Court of India unanimously declared the Electoral Bond Scheme unconstitutional, finding it violative of the right to information enshrined in Article 19(1)(a) of the Constitution. The Court further directed the State Bank of India (SBI) to disclose comprehensive details regarding all Electoral Bond transactions that occurred between April 12, 2019, and February 15, 2024.