Electoral Bonds Scheme The Supreme Court on Thursday canceled the Electoral Bond Scheme, terming it unconstitutional.
Many instructions have also been given to State Bank of India (SBI). While giving instructions, the court said that the bank will give the details of electoral bonds purchased from April 12, 2019 till now to the Election Commission. Let us know in detail in this report.
Electoral Bonds Scheme: The Supreme Court on Thursday canceled the Electoral Bond Scheme, terming it unconstitutional. Besides, many instructions have also been given to the State Bank of India (SBI), which issued the bonds.
In a landmark judgment with wide-ranging implications, the court ordered SBI to disclose the names of people who were part of the six-year-old scheme. The Supreme Court, while directing SBI to stop the sale of bonds, said that the bank will give the details of electoral bonds purchased from April 12, 2019 till now, to the Election Commission.
Why has the Supreme Court taken this decision?
Let us tell you that the Supreme Court on Thursday canceled the electoral bond scheme saying that it violates the right to information and freedom of expression under the Constitution.
A five-judge Constitution bench headed by Chief Justice DY Chandrachud delivered two separate but unanimous verdicts on petitions challenging the scheme.
Delivering the verdict, the CJI said that the scheme is a violation of freedom of speech and expression under Article 19(1)(A) of the Constitution. The bench said that the fundamental right to privacy also includes the citizens’ right to political privacy and association.
It also invalidated the amendments made to various laws, including the Representation of the People Act and income tax laws.
Let us tell you that this scheme was notified by the government on January 2, 2018. Its objective was to bring transparency in political funding and it was introduced as an alternative to cash election donations or donations to political parties.
Electoral bonds can be purchased by any citizen of India, either alone or jointly with someone else. Besides, it can also be purchased by any entity incorporated or established in the country.
