Supreme Court Hears Arguments Against Electoral Bonds Scheme

Supreme Court Hears Arguments Against Electoral Bonds Scheme

VoM News Desk | October 31, 2023 | 09:50 PM IST | Courts & Law | Follow on Google News

Supreme Court Hears Arguments Against Electoral Bonds Scheme

Supreme Court Hears Arguments Against Electoral Bonds Scheme

The Supreme Court of India received arguments questioning the validity of the Electoral Bonds scheme, which allows anonymous funding to political parties. Critics argue that these bonds, rather than being election-centric, serve as a means to enrich political parties in power, both at the national and state levels, potentially fostering quid pro quo arrangements.

Legal experts contend that Electoral Bonds lack election-focused mechanisms and fail to ensure accountability in their usage. The anonymous nature of these bonds raises concerns about the source of funds and their impact on political transparency.

Arbitrary and Unaccountable Scheme

Senior advocate Kapil Sibal asserted that the Electoral Bond scheme is arbitrary and must be invalidated. He emphasized the scheme’s detachment from electoral processes and the absence of accountability measures.

Advocate Prashant Bhushan, representing the NGO Association for Democratic Reforms, highlighted the veil of anonymity surrounding Electoral Bonds. He argued that the anonymity impedes people’s right to know the sources of political party funding, emphasizing the importance of transparency in upholding democratic principles.

Quid Pro Quo and Corruption Concerns

Bhushan also pointed out the potential quid pro quo associated with the Electoral Bonds and claimed that their opaque, anonymous nature could promote corruption. He noted that the majority of the bonds have benefited political parties in power, particularly the ruling party at the national level. This situation, according to Bhushan, disrupts the level playing field in elections.

the advocate further alleged that money channeled through shell companies could be from foreign sources or constitute black money. He referenced objections raised by the Election Commission of India and the Reserve Bank of India regarding the Electoral Bond scheme.

Understanding Recipient Parties

Kapil Sibal argued that recipient political parties are not entirely unaware of the identity of their major donors, suggesting that practical politics dictates that anonymity is not absolute.

The case will continue to be heard on November 1, and the Attorney General for India has submitted written arguments in defense of the Electoral Bonds scheme, asserting that citizens do not have a fundamental right to be informed about the sources of political funding.

The legality and implications of the Electoral Bonds scheme are being closely examined in this crucial case.

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