Electoral Bonds: SC asks SBI to declare all details by Thursday, March 21

On Monday, the Supreme Court issued directives to the State Bank of India (SBI) to disclose comprehensive details concerning electoral bonds. These details include the date of purchase and redemption, the names of purchasers and recipients, denominations, and alphanumeric numbers and serial bonds.

Furthermore, the court instructed SBI Chairman Dinesh Kumar Khara to submit an affidavit by 5 pm on Thursday, confirming the disclosure of all pertinent details in the bank’s possession and affirming that no information has been withheld.

Chief Justice DY Chandrachud emphasized the necessity for SBI to provide all available details, including alphanumeric and serial numbers of purchased bonds, to prevent potential future controversies. The court underscored the importance of transparency by mandating the filing of an affidavit to confirm the disclosure and absence of withheld information.

supreme court/IANS

Additionally, the Supreme Court dismissed a petition by the ‘Citizens Rights Trust’ seeking to pre-date the disclosure of bond details. Instead, the court directed SBI to disclose information from April 12, 2019, to Feb 15, 2024. The plea alleged the sale of 9,159 bonds worth ₹4,000 crores during this period.

The court declined pleas by industry bodies like Ficci and Assocham to defer the disclosure of bond numbers, asserting that anonymity cannot supersede the requirement for information disclosure.

During the proceedings, Solicitor General Tushar Mehta raised concerns about misinformation on social media regarding the court’s electoral bond judgment. He highlighted deliberate misrepresentation by petitioners in press interviews and emphasized a hidden agenda behind such actions. In response, the court reiterated its readiness to handle social media commentary, asserting its commitment to the rule of law and transparency.

In the previous hearing, the Supreme Court instructed the Election Commission to return sealed covers containing electoral bond information. The court directed the digitization of this data by 5 pm on Saturday and its subsequent public release in accordance with the court’s directives.