SC Refuses To Extend Time For SBI To Publish Electoral Bonds Details

The Supreme Court of India, on March 11, dismissed an application filed by the State Bank of India seeking extension of time for publishing details pertaining to Electoral Bonds.

The Court directed the Bank to disclose the information by 12 March, 2024.

Earlier, a Constitution Bench comprising Chief Justice of India DY Chandrachud, Justice Sanjiv Khanna, Justice BR Gavai, Justice JB Pardiwala and Justice Manoj Misra, held the Electoral Bonds scheme as unconstitutional and illegal. The Court had further directed the State Bank of India to publish the details and information regarding the donors of the Electoral Bonds.

Senior Advocate Harish Salve represented the State Bank of India and prayed for time till June 30 to publish the list of donors. The Apex Court refused to accept the plea of the SBI.

The Court did not initiate contempt proceedings against the State Bank of India and said that it will do so in case of non compliance of the Court's order passed today.

The Supreme Court of India had held that the Electoral Bonds scheme was unconstitutional as it contravened Article 19(1)(a) of the Constitution of India. The said scheme created an opaque architecture for political donations.

Source: Live Law