SC VERDICT ON ELECTORAL BOND SCHEME
It's taxing times for electoral bond buyers after Supreme Court's Feb verdict
More than 1,000 entities who purchased electoral bonds for political donations may now face inquiries from tax authorities regarding the deductions claimed on these contributions, following the Supreme Court's decision to invalidate the scheme in February. The Supreme Court, in its ruling on February 15, declared the electoral bond scheme unconstitutional. Since its introduction in January 2018, the scheme had amassed Rs 16,518 crore in donations for political parties.
Electoral Bonds: CJI to take call on listing of plea seeking SIT probe into quid pro between corporates and political parties
Two NGOs have requested the Supreme Court to consider their PIL for a court-monitored investigation into alleged quid pro quo involving political parties, corporations, and investigative agencies in the electoral bonds scheme. The Court acknowledged the plea and assured it would be listed for an early hearing, following the recent scrapping of the electoral bonds scheme by a Constitution bench.
Electoral bonds: Plea in SC seeks SIT probe into alleged quid pro quo between parties, corporates
A petition filed in the Supreme Court demands an SIT probe into alleged quid pro quo arrangements between corporates and political parties through electoral bonds. NGOs Common Cause and CPIL seek investigation into funding sources of shell companies, loss-making firms, alleging involvement of officials and agencies. The plea follows the court's February verdict against anonymous electoral bonds.
From Ponnuswami case to Electoral Bond verdict: How the Supreme Court shaped India's democracy
From interpreting laws to ensuring transparency, India's judiciary has significantly influenced the country's electoral landscape through key legal decisions over the years, impacting processes before, during, and after general elections.
Plea in SC seeks review of verdict scrapping electoral bonds scheme
A review plea challenges the Supreme Court's annulment of Modi government's electoral bonds scheme, emphasizing the need for considering public opinion and addressing constitutional rights in political funding.
"Congress manifesto is regressive while ours...": Rajnath Singh
Defense Minister Rajnath Singh criticized Congress's manifesto as regressive, contrasting it with the upcoming progressive BJP manifesto. He highlighted the differences in minority appeasement approaches and addressed Congress's promises regarding reservations and caste census.
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SC stays trial in money laundering case against 'lottery king' Santiago Martin
The Supreme Court halted proceedings before a special court in a money laundering case involving 'lottery king' Santiago Martin. Martin challenged the special PMLA court's decision to dismiss his petition for suspending the trial in Kerala's Ernakulam. His plea argues that the PMLA trial should wait until the predicate case concludes, referencing a 2022 verdict.
SBI refuses to disclose SOP for sale, redemption of electoral bonds in RTI reply
In its landmark verdict on February 15, the court scrapped the Centre's electoral bonds scheme that allowed anonymous political funding, calling it "unconstitutional", and ordered disclosure by the EC of the donors, the amounts donated by them and the recipients by March 13.
Electoral bonds: Congress demands SC-monitored SIT probe, says scheme used for prepaid, postpaid bribes
Congress accuses BJP of enabling corruption through electoral bonds, demanding SC-monitored probe. Ramesh exposes quick donor-party matches, vows investigations if INDIA bloc wins. Allegations of corporate donations post-raids raise further concerns.
SBI complies with SC order, gives EC alphanumerical data on electoral bonds
State Bank of India submits compliance affidavit to Supreme Court, confirming submission of electoral bond details to Election Commission. CMD Dinesh Khara assures all relevant information provided, excluding KYC details for security. The affidavit emphasizes adherence to court orders on non-disclosure of complete account numbers and KYC information.
Mayawati hails SC verdict scrapping electoral bonds as important
In a series of posts on X, BSP president Mayawati said that her party had stayed away from using the money power of big capitalists and rich people and, when in power, worked for the welfare of the poor and backward classes.
Electoral bonds: Some key things to know about the scheme scrapped by SC
In the affidavit, SBI revealed that a total of 22,217 electoral bonds were purchased and 22,030 redeemed by political parties between April 1, 2019 and February 15 this year.
SC Bar Association writes to President Murmu, seeks holding back of SC's judgment declaring electoral bonds unconstitutional
The Supreme Court Bar Association (SCBA) has urged President Droupadi Murmu for a Presidential Reference in the Electoral Bonds case. SCBA President Adish Aggarwala's letter emphasizes the court's judgment deeming the current form of electoral bonds unconstitutional. Aggarwala defends the legislative intention behind the scheme, arguing against judgments that create a constitutional stalemate and undermine parliamentary authority.
Electoral bonds: SC dismisses SBI's plea for extension, seeks details by tomorrow
The Supreme Court dismissed the State Bank of India's plea for an extension until June 30 to disclose details of electoral bonds. The court ordered the SBI to provide details by March 12. Harish Salve, representing the SBI, cited the complexity of matching donor details with political parties.
Electoral Bonds case: SC assures listing of ADR's contempt plea against SBI, after bank's 'mala fide' extension request
Electoral Bonds case: The Supreme Court (SC) on Thursday asserted that the Association for Democratic Reforms' (ADR) contempt plea against the State Bank of India (SBI) will be heard on March 11, 2024. This development comes after SBI requested an extension to the deadline for disclosing details of electoral bonds cashed by political parties, missing the earlier set deadline of March 6.
SBI should follow SC deadline on electoral bond scheme, says bank employees' union
The Bank Employees Federation of India (BEFI) demanded that the State Bank of India adhere to the Supreme Court's deadline to disclose the names of contributors to the electoral bond scheme to the Election Commission. The BEFI is a union consisting of employees of commercial banks, the Reserve Bank of India, NABARD, regional rural banks, and co-operative banks.
Desperate Modi govt trying to use SBI to bulldoze SC judgment on electoral bonds scheme: Congress
The Congress party has accused the Modi government of using the State Bank of India (SBI) to hide its "dubious dealings" by seeking more time to disclose details of electoral bonds. The SBI has requested an extension until June 30 to provide the information, which the Supreme Court had previously ordered to be disclosed by March 6. The Congress party maintains that the electoral bonds scheme is "opaque, undemocratic, and destroyed the level playing field."
SC flags lack of distinction between 'campaign and electoral funding'
The Supreme Court has highlighted the lack of distinction between campaign funding and electoral funding in the legal regime. It emphasized the connection between economic inequality and political inequality, the importance of transparency and the right to information, and the concerns regarding asymmetric access to information.
"Last 10 years are proof of corporates appeasements": Asaduddin Owaisi hails SC verdict on electoral bonds
AIMIM President Asaduddin Owaisi welcomes Supreme Court's verdict on the electoral bonds scheme, terming it 'unconstitutional' and highlighting BJP's favoritism towards corporates. He questions the legitimacy and transparency of elections since 2017 due to unlimited corporate funding.
SC verdict on electoral bonds: Still a long way to go, says former CEC
The Supreme Court's verdict striking down the electoral bonds scheme is a "great boon for democracy," according to former chief election commissioner S Y Quraishi. The five-judge bench of the apex court, headed by Chief Justice of India D Y Chandrachud, ruled that the scheme violates the right to information and freedom of speech and expression under the Constitution.
Opposition asks Govt and ECI to implement SC order and release donors' names
They asked the Modi government to follow the judicial order and ECI to release the names of donors. Congress sounded caution against any move by the Centre to try and circumvent the order through an ordinance. A jubilant CPI(M) reminded all that it was the only political party among the petitioners in the case against the electoral bonds.
Opposition tears into BJP's 'corrupt' electoral bonds scheme after SC calls it unconstitutional
The Supreme Court has ruled against the electoral bond scheme, which was criticized by several opposition leaders. Congress leader Jairam Ramesh praised the decision, stating it would strengthen the power of votes over notes. He criticized the Modi Sarkar government for inflicting injustice on the Annadatas and privileging the Chandadatas.
Former CECs SY Quraishi, TS Krishnamurthy lauds SC verdict on electoral bond
A five-judge apex court bench, headed by Chief Justice of India D Y Chandrachud, said the electoral bonds scheme violates the right to information and the freedom of speech and expression under the Constitution. It also ordered the State Bank of India to disclose to the Election Commission the names of the contributors to the six-year-old scheme for political funding.
SC strikes down electoral bonds scheme. Here's what it asked the SBI to do
The Indian Supreme Court has ruled that the issuance of electoral bonds is unconstitutional and violates the right to information, Article 19(1)(a). The court has ordered the State Bank of India to stop rolling out bonds and submit details of bonds purchased since April 2019 to the Election Commission of India (ECI) by March 6.
Electoral Bonds Case Verdict: SC unanimously strikes down poll bonds scheme, terms it ‘unconstitutional’
Striking down the validity of poll bonds scheme, the Supreme Court ruled that electoral bonds violate the Right to Information. The Chief Justice of India, DY Chandrachud asked banks to stop selling these bonds and asked SBI to furnish details of donations and parties that got these donations. Narendra Modi's BJP government in 2018 introduced electoral bonds as an alternative to monetary contributions to political parties.
SC rules electoral bonds scheme 'unconstitutional'; Here are the key takeaways from the verdict
The Supreme Court has deemed the electoral bonds scheme "unconstitutional," citing its violation of the right to information. The scheme allowed anonymous corporate contributions to political parties. The court has directed the State Bank of India (SBI) to stop issuing electoral bonds and disclose details of parties that received them. The decision, coming ahead of the Lok Sabha elections, aims to enhance transparency in political funding. The ruling BJP reportedly received significantly more funding through electoral bonds than the Congress, raising concerns about fairness and transparency in political financing.
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