Supreme Court Petition Seeks Disclosure of Electoral Bonds Sold from 2018 to 2019

A recent plea filed in the Supreme Court has sought the disclosure of details regarding electoral bonds sold between March 1, 2018, and April 11, 2019. The petition, filed by the Citizen’s Rights Trust, emphasizes the importance of transparency in political funding and argues that voters have the right to know about the funding received by political parties throughout the duration of the electoral bond scheme.

The plea comes in the wake of a landmark verdict last month, where the Supreme Court declared the electoral bonds scheme unconstitutional and ordered the State Bank of India (SBI), the authorized financial institution, to submit details of bonds purchased from April 12, 2019, to February 15, 2024, to the Election Commission of India (ECI).

According to the petition, a total of 9,159 bonds worth ₹4,002 crore were sold during the period from March 2018 to April 2019, and these details should also be disclosed. The petition seeks direction to the SBI to provide information on electoral bonds sold and redeemed during this period, including alphanumeric numbers, dates of purchase, denominations, and the names of donors and parties.

Highlighting the importance of full disclosure, the petition argues that citizens are entitled to know about the funding received by political parties since the inception of the electoral bond scheme. It raises concerns about the lack of transparency, noting that only 76% of the total bonds’ details are available on the Election Commission’s platform, leaving voters unaware of the remaining 24% of electoral bonds.

While the SBI was directed to submit details of bonds purchased from April 12, 2019, to February 15, 2024, by March 6, the bank sought an extension until June 30. However, the Supreme Court rejected the plea and ordered the bank to disclose the details by March 12.

The Election Commission was further directed to publish the information shared by the bank on its official website by 5 pm on March 15, emphasizing the court’s commitment to transparency and accountability in political funding.

As the legal battle over electoral bonds continues, the petition underscores the significance of ensuring transparency and public disclosure of political funding for maintaining the integrity of the electoral process.

Highlights the recent petition filed in the Supreme Court seeking disclosure of electoral bond details for the period 2018-2019, providing a comprehensive overview of the legal developments and arguments presented in the case. Let me know if you need further modifications or additional information.