SC strikes down electoral bonds scheme, terms it unconstitutional

In a landmark judgement that delivered a big blow to the government the Supreme Court on Thursday annulled the electoral bonds scheme saying it violates the Constitutional right to freedom of speech and expression as well as the right to informationThe apex court ordered the State Bank of India SBI to disclose to the Election Commission the names of the contributors to the sixyearold schemeA fivejudge Constitution bench headed by Chief Justice D Y Chandrachud directed that the SBI must disclose details of each electoral bond encashed by political parties The information should include the date of encashment and the denomination of the bonds and be submitted to the poll panel by March 6The Election Commission should publish the information shared by SBI on its official website by March 13 the bench saidThe bench also comprising Justices Sanjiv Khanna B R Gavai J B Pardiwala and Manoj Misra delivered two separate and unanimous verdicts on the pleas challenging the schemePronouncing the verdict the CJI said the scheme is violative of the right to freedom of speech and expression under Article 191a of ConstitutionThe electoral bonds scheme and the impugned provisions to the extent that they infringe upon the right to information of the voter by anonymising contribution through electoral bonds are violative of Article 19 1a the CJI said while pronouncing the verdictThe bench said the fundamental right to privacy also includes the citizens right to political privacy and affiliationIt also held as invalid the amendments made in various laws including the Representation of Peoples Act and the Income Tax lawsThe apex court directed that the SBI shall stop issuing electoral bonds and submit details of bonds purchased since April 12 2019 till date to the Election Commission It should also submit details of political parties which have received contributions through electoral bonds since April 12 2019 till date to the poll panelIn October last year the bench began hearing arguments on the four petitions including those filed by Congress leader Jaya Thakur the Communist Party of India Marxist and the NGO Association for Democratic Reforms ADRAdvocate Varun Thakur who represented Thakur in the case described the verdict as a setback for the government because from 2018 to 2024 whatever transactions which have taken place have to be made publicIt is a setback because of the way anonymous contributions were received through the scheme Now accountability will be fixed It is a historical step for democracy and today we can say democracy has won Thakur addedThe Supreme Court has directed the SBI to furnish complete information about who purchased the bonds who encashed the bonds All this information will have to be submitted to the Election Commission which will have to display it on its website so that the people come to know who purchased the bonds advocate Prashant Bhushan who represented ADR saidThe scheme which was notified by the government on January 2 2018 was pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political fundingAccording to the provisions of the scheme electoral bonds may be purchased by any citizen of India or entity incorporated or established in the country An individual can buy electoral bonds either singly or jointly with other individuals without disclosing the identityCritics have said this eliminates transparency in electoral funding and gives an edge to ruling partiesOn November 2 last year the top court reserved its verdict in the matterIn April 2019 the apex court declined to stay the scheme and made it clear that it would accord an indepth hearing on the pleas as the Centre and the Election Commission had raised weighty issues that had tremendous bearing on the sanctity of the electoral process in the countryThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever