Supreme Court Sets October 31 for Final Hearing on Electoral Bond Scheme

Supreme Court Sets October 31 for Final Hearing on Electoral Bond Scheme

Dil Bar Irshad | October 10, 2023 | 01:25 PM IST | Breaking News, Courts & Law | Follow on Google News

Supreme Court Sets October 31 for Final Hearing on Electoral Bond Scheme

Supreme Court Sets October 31 for Final Hearing on Electoral Bond Scheme

The Supreme Court has scheduled October 31 for a decisive hearing on petitions challenging the validity of the electoral bond scheme used for political party funding. A bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra acknowledged the importance of resolving the matter before the scheme’s utilization in the 2024 general elections, following submissions by lawyer Prashant Bhushan.

Anonymous Funding Raises Concerns

Prashant Bhushan, representing the NGO Association for Democratic Reforms (ADR), argued that the anonymous nature of funding through electoral bonds fosters corruption and infringes upon citizens’ rights to a corruption-free nation. He contended that this anonymity violates Article 21 and compounds the issue by avoiding a clear decision on the matter.

Four Petitions to be Heard

After considering preliminary submissions on the electoral bond scheme, the bench scheduled four petitions for a final hearing on October 31, with a possibility of continuation on November 1 if needed. Earlier, the Supreme Court had explored the option of referring the pleas challenging the scheme’s validity to a constitutional bench for a definitive ruling.

Transparency and Political Funding

The issue of electoral bonds has been a subject of contention, with one petitioner revealing that Rs 12,000 crore had been funneled to political parties through these bonds, with a significant portion benefiting one major political party. These bonds were introduced to promote transparency in political funding by providing an alternative to cash donations.

Lawyer Bhushan’s Urgent Listing Request

Lawyer Prashant Bhushan has consistently sought urgent listing of the PIL in the Supreme Court, urging the Centre not to open any additional windows for the sale of electoral bonds during the case’s pendency. The NGO’s PIL focuses on alleged corruption, foreign funding of political parties, and a lack of transparency in their bank accounts.

Electoral Bond Scheme Background

The government introduced the Electoral Bond Scheme on January 2, 2018, as an initiative to enhance transparency in political funding. Under the scheme, electoral bonds can be purchased by Indian citizens or entities incorporated or established in India. Only political parties registered under Section 29A of the Representation of the People Act, 1951, and securing at least one percent of votes in the last general election are eligible to receive electoral bonds.

Dil Bar Irshad

Dil Bar Irshad is a seasoned journalist, hails from Jammu Kashmir's Doda, covers political, social, business stories, index stories.