NEW DELHI:
Supreme Court
on Thursday struck down the
electoral bonds scheme
as “
unconstitutional
“, saying that
anonymous corporate contributions
to political parties are “violative of
right to information
“.
Here are five key observations and directions issued by CJI DY Chandrachud-led bench:
1. Electoral Bonds Scheme, proviso to Section 29(1)(c) as amended by Section 139 of Income Tax Act and Section 13(b) as amended by Finance Act 2015, is violative of Article 19(1)(a).
2.
The issuing bank shall herewith stop issuing electoral bonds.
3. SBI shall issue details of the political parties which received electoral bonds and all the particulars received and submit them to EI by March 6. SBI shall furnish bonds’ purchase details with date of purchase, name of purchaser, denomination. SBI shall also submit details of parties who received contributions through electoral bonds. SBI should disclose details of each bond encashed.
4. By March 13, EC shall publish this information on the official website.
5. Electoral bonds which are not encashed by political parties shall be returned and refunded to purchasers.
