Stern Directive from the Top Court
In a bold move, the Supreme Court rejected the State Bank of India’s (SBI) plea. It ordered the banking giant to furnish complete donor and recipient details of the electoral bonds scheme to the Election Commission by tomorrow, March 14.
Landmark Verdict on Anonymous Political Funding
The stern directive came barely a month after the apex court’s landmark verdict on February 15. A five-judge Constitution bench had scrapped the electoral bonds scheme, terming it unconstitutional. The scheme had allowed anonymity in political funding.
Contempt Warning for Non-Compliance
Leaving no room for excuses, the Supreme Court issued a stern warning. It cautioned the SBI Chairman and Managing Director that they would face contempt proceedings if they failed to comply with the order by the deadline.
Grilling Over Delays
During the courtroom proceedings, the bench led by Chief Justice D.Y. Chandrachud grilled the SBI over its apparent lethargy. “In the last 26 days, what steps have you taken? Your application is silent on that,” the judges questioned, expressing displeasure over the bank’s inaction since the initial order on March 13.
Plain Disclosure Expected
The judges made it clear that the task was straightforward – open the sealed cover, collate the details, and provide the information to the Election Commission. No complexities, just plain disclosure.
SBI’s Attempts to Delay
Senior advocate Harish Salve, representing SBI, argued that more time was needed. He stated the bank required at least three weeks to collate and match the details scattered across branches. However, the court dismissed these arguments as attempts to delay the inevitable.
Roadmap for Transparency
In a significant move, the court directed the Election Commission to publish the information released by SBI on its website by 5 pm on March 15. This step aimed to promote transparency in political funding, a key issue highlighted in the electoral bonds verdict.
Strong Stance for Accountability
The Supreme Court’s firm stance underscores its commitment to upholding the integrity of the electoral process. It has put the onus squarely on SBI to comply, or face the consequences of contempt proceedings. This episode could prove pivotal in ensuring transparency and accountability in Indian democracy.
