In the latest development concerning the electoral bonds case, the Supreme Court directed the State Bank of India (SBI) on Monday (March 18) to reveal all possible information it holds regarding electoral bonds, including the alphanumeric number corresponding to each bond. The Court emphasized the need for full disclosure, stating that the SBI must provide all details within its custody, including alphanumeric and serial numbers, if available, by Thursday, 5 PM. This move aims to prevent any future disputes, with the Court instructing the bank’s chairperson to submit an affidavit affirming complete disclosure.
The Court clarified that its previous judgment from February 15 mandated the SBI to disclose “all details,” encompassing the date of purchase/redemption, purchaser/recipient names, and denomination. It noted that the term “including” implies an illustrative rather than exhaustive list.
Additionally, the Court ordered the Election Commission of India (ECI) to promptly upload the details provided by the SBI on its website upon receipt. This directive represents a significant step towards transparency in the disclosure process mandated by the Court, which originated from a constitution bench ruling declaring the electoral bonds scheme unconstitutional.
Previously, the Supreme Court had rejected a request by the bank for an extension to furnish electoral bonds details. Following the Court’s rebuke, the SBI complied with the directives and provided details of electoral bonds to the ECI. This information was supplied in two separate packets, one containing purchaser details and the other containing information on political parties redeeming the bonds.
During recent hearings, the Court reiterated the necessity for the SBI to disclose the alphanumeric numbers corresponding to each electoral bond. Despite some attempts to defer this disclosure, the Court emphasized its previous directive and underscored that the bank must not withhold any details. Solicitor General Tushar Mehta highlighted concerns about social media commentary on the judgment, prompting reassurance from the Court that it can handle such commentary.
In another related development, a trust filed an application seeking disclosure of electoral bond details sold between March 2018 and April 2019. However, the Court maintained its stance, stating that the disclosure directive applies from April 12, 2019, a conscious decision made by the constitution bench.
Background:
In its landmark judgment on February 15, the Supreme Court struck down the electoral bonds scheme, deeming anonymous electoral bonds contrary to the right to information under Article 19(1)(a) of the Constitution. The Court directed the SBI to cease issuing bonds immediately and ordered the disclosure of bond purchases made since April 12, 2019. Following various petitions and compliance efforts, the SBI furnished electoral bond details to the ECI, which were subsequently uploaded to the commission’s website.
Case Details:
Association for Democratic Reforms & Anr. v. Union of India & Ors. | Diary No. 11805 of 2024
