The Supreme Court of India will decide a batch of pleas challenging the validity of the Electoral Bond Scheme, which allows anonymous funding to political parties.
New Delhi: The Supreme Court of India is about to rule on a batch of pleas challenging the validity of the Electoral Bond Scheme announced by the central government, which allows anonymous funding to political parties. A bench headed by CJI DY Chandrachud along with Justice Sanjiv Khanna, Justice BR Gavai, Justice JB Pardiwala and Justice Manoj Misra reserved its judgment on the case on November 2, 2023.
Direction of the Supreme Court to the Election Commission
The court upheld the ruling but directed the Election Commission of India to present and update the funds received by all political parties until September 30, 2023.
What is an electoral tie?
An electoral bond is an instrument similar to a promissory note or a bearer bond. Any company, association or corporation having an Indian citizen or incorporated or incorporated in India is eligible to purchase an electoral bond. The bonds are expressly issued to enable financial contributions to political parties.
In its affidavit, the Center stated that there is no way to get “black money” or unaccounted money through the “completely transparent” financing mechanism of the Electoral Bonds programme.
The Supreme Court is currently hearing a number of petitions challenging the changes made to various statutes by the Finance Acts of 2016 and 2017, arguing that these changes have enabled political parties to receive unlimited funding.
The 2017 Finance Bill, which opened the door to the introduction of the Electoral Bond scheme, was passed as a money bill even though it was not, according to the NGOs Association of Democratic Reforms and Common Cause.
(With input from agencies)