Election Commission’s Directive to Political Parties: Submit Electoral Bond Details

Election Commission's Directive to Political Parties: Submit Electoral Bond Details

VoM News Desk | November 14, 2023 | 05:33 PM IST | Elections 2023 | Follow on Google News

Election Commission’s Directive to Political Parties: Submit Electoral Bond Details

Election Commission’s Directive to Political Parties: Submit Electoral Bond Details

In accordance with the Supreme Court’s directive dated November 2, the Election Commission of India (ECI) has issued a reminder to all political parties, emphasizing the necessity to submit details of donations received via electoral bonds. This follows the initial order from the ECI on November 3, requiring the submission of these details by 5pm on November 15. The parties must provide this information to Binod Kumar, Secretary of the Election Expenditure Division at the ECI.

Detailed Disclosure Requirements

The ECI’s instructions demand comprehensive disclosure from political parties. They must reveal details of each donor against every bond, the amount of each bond, and detailed particulars of the credit received against each bond. This includes specifics of the bank account where the amount was credited and the date of each credit. Political parties are required to submit this data to the ECI in a “double sealed cover” labeled as “Confidential-Electoral Bond.”

Supreme Court’s Involvement and Data Submission

The Supreme Court, under the leadership of Chief Justice DY Chandrachud, has instructed the ECI to collate and submit all data related to the sale and purchase of electoral bonds since the scheme’s inception in January 2018. This data, updated till September 30, 2023, must be handed over to the Court’s registrar (judicial) in a sealed packet. The Court has reserved its judgment on the case, indicating the gravity of the issue.

Substantial Sales of Electoral Bonds

According to a report by Commodore Lokesh Batra (Retd) based on RTI requests, electoral bonds worth ₹14,940 crore have been sold from March 2018 to October 2023. Notably, before the assembly elections in five states, bonds totaling ₹1,148 crore were sold between October 4 and October 13, with 95.352% of these sold in the denomination of ₹1 crore each. This substantial sale of bonds underscores the significant role of electoral bonds in political funding.

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