SBI submit details of electoral bonds to Election Commission of India

In a post on X, the Election Commission of India said, “In compliance with the Supreme Court’s directions to the SBI, contained in its order dated Feb 15 and March 11, 2024 (in the matter of WPC NO.880 of 2017), data on electoral bonds has been supplied by State Bank of India to Election Commission of India, today, March 12, 2024.”

Earlier a five-judge Constitution bench of Chief Justice of India DY Chandrachud and Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra ordered that the details be disclosed by the bank on March 12.

In its February 15 judgement, the apex court had set the deadline for SBI as March 6, however, the SBI last week moved the top court seeking an extension till June 30 to comply with the court’s directions.

Passing the order on SBI’s application today, the bench ordered, “Submissions of SBI in the application indicates that information sought is readily available. Thus, the application by SBI seeking an extension of time until June 30 is dismissed. SBI is directed to disclose the details by the close of business hours of March 12, 2024.”

The Constitution bench also warned the SBI of contempt of court against it for wilfully disobeying its order in the event of non-compliance with the latest directions.

The Supreme Court had struck down the Electoral Bonds Scheme which allowed for anonymous funding to political parties, and ordered the SBI to stop issuing Electoral Bonds immediately. (ANI)