Contempt Petition Filed Against SBI For Not Disclosing Details Of Electoral Bonds

A contempt petition has been filed before the Supreme Court of India against State Bank of India for failing to comply with the Court's directive to disclose details pertaining to electoral bonds. Advocate Prashant Bhushan urgently requested a hearing today. This request by the NGO (Association for Democratic Reforms) is part of their efforts to ensure transparency in political funding, particularly regarding the controversial electoral bonds scheme. 

Bhushan brought up the contempt petition before Chief Justice of India DY Chandrachud, highlighting SBI's application seeking an extension of time till June 30 to provide the information. The Chief Justice instructed Bhushan to send an email request with the application number. 

The contempt petition accuses SBI of deliberate defiance and seeks initiation of contempt proceedings for not furnishing vital information about electoral bonds to the Election Commission of India within the court's stipulated timeframe. ADR and Common Cause argue that SBI's claimed difficulties in compiling data are unfounded, as the bank has the necessary infrastructure to do so swiftly. They stress the importance of transparency in political financing, asserting that voters have the right to know about significant contributions made to political parties. 

The Supreme Court's directions aimed to enhance transparency in political funding by requiring SBI to disclose details of electoral bond purchasers and recipient parties, to be published by the Election Commission by March 13, 2024.

Source: Live Law