Supreme Court Directs ECI to Provide Updated Electoral Bonds Data

Supreme Court Directs ECI to Provide Updated Electoral Bonds Data

VoM News Desk | November 2, 2023 | 08:04 PM IST | Breaking News, Courts & Law | Follow on Google News

Supreme Court Directs ECI to Provide Updated Electoral Bonds Data

Supreme Court Directs ECI to Provide Updated Electoral Bonds Data

In a significant development, the Supreme Court has directed the Election Commission of India (ECI) to furnish updated data on the funds received by all political parties through electoral bonds within two weeks. The bench, headed by Chief Justice of India (CJI) DY Chandrachud, along with Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra, reserved its verdict after three days of hearing on a batch of pleas challenging the central government’s electoral bond scheme.

Plea for Transparency and Accountability

The ECI was asked to submit the data up to September 30, 2023, in a sealed packet to the Registrar General of the Supreme Court. The directive came after the bench expressed its displeasure with the ECI for not having the data on electoral bonds donations up to date. It noted that the ECI was obliged to maintain such data as per an interim order issued in April 2019. The court emphasized the importance of transparency and accountability in political funding.

Criticism of the Electoral Bond Scheme

During the hearing, senior advocate Kapil Sibal, representing one of the petitioners, criticized the Electoral Bond scheme, calling it “the most unconstitutional, undemocratic, unfair scheme that destroys the basic structure of the constitution.” The bench suggested that an alternative system should be considered to address the flaws in the existing electoral bond system.

The Need for a Tailor-Made System

CJI Chandrachud stated that the court does not intend to revert to a cash-only system but emphasized the importance of creating a proportionate, tailor-made system to overcome the serious deficiencies in the electoral bond system. The bench clarified that only the legislature or the executive can undertake such an exercise, and the court will not interfere in that domain.

Electoral Bonds and Their Purpose

Electoral bonds are instruments that can be purchased by individuals, companies, firms, or associations to contribute funds to political parties. The scheme was introduced to facilitate transparent political funding. The central government has defended the scheme’s transparency and its ability to prevent black money or unaccounted money from influencing political contributions.

Challenges to Amendments and the Finance Bill

Several petitions are currently pending before the Supreme Court, challenging amendments made to various statutes through the Finance Act 2017 and Finance Act 2016. Critics argue that these amendments have opened the doors to unlimited and unchecked funding of political parties. NGOs such as the Association of Democratic Reforms and Common Cause have contended that the Finance Bill, 2017, which enabled the Electoral Bond scheme, was passed as a money bill, even though it did not meet the criteria for such classification.

The Supreme Court’s decision to seek updated data on electoral bonds reflects its commitment to addressing concerns surrounding political funding and ensuring transparency in the process.

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