Electoral bonds
Electoral bonds: The Supreme Court of India will hear State Bank of India’s request for an extension of time to submit details of electoral bonds on Monday – March 11. The State Bank of India (SBI) had earlier sought to extend it till June 30.
five-judge constitutional bench
Electoral bonds : A five-judge constitutional bench headed by Chief Justice DY Chandrachud will also hear a separate contempt action against the SBI alleging “willful and deliberate” violation of a Supreme Court order disclosing details of contributions made to political parties through electoral bonds to the Election Commission by March 6.
The apex court bench, also comprising justices Sanjiv Khanna, B R Gavai, J B Pardiwala, and Manoj Misra, will assemble at 10.30 am to hear the two petitions.
Political donations
In a landmark ruling on February 15, a five-judge Constitutional Court declared the Center’s electoral bond system, which allowed anonymous political donations, “unconstitutional” and declared it unconstitutional. He directed the committee to receive the donor, donation amount and amount donated by March 13.
Election Commission
The Supreme Court then directed SBI, a financial institution authorized under the scheme, to submit by March 6 the details of electoral bonds purchased since April 12, 2019 to the Election Commission. which was asked to publish the information on its official website by March 13.
SBI argued that the process of retrieving information from “each silo” and reconciling information from one silo with another was a time-consuming task.
According to the document, due to strict measures to ensure the anonymity of donors, “deciphering” voter relationships and matching donors with donations will be a complex process.
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