Disclose all electoral bond data. Supreme Court to SBI

Supreme Court to SBI: reveal all details related to electoral bonds to the Election Commission by Thursday, 5 pm. This includes details such as the issuance and redemption of electoral bonds, unique alphanumeric numbers, and serial numbers, covering the period from April 12, 2019, to February 15, 2024.

 Supreme court to SBI

Dev was leaving for college but received a notification that said, “Supreme Court to SBI, reveal electoral bond details to the Election Commission by Thursday at 5 pm.” Dev stopped to talk about this update with his father.

The Supreme Court to SBI Regarding Electoral Bonds

Dev: Hey, Dad, see this: “Reveal all details related to electoral bonds to the Election Commission by Thursday, 5 p.m.,” says the Supreme Court to SBI. This includes details such as the issuance and redemption of electoral bonds, unique alphanumeric numbers, and serial numbers, covering the period from April 12, 2019, to February 15, 2024. The EC was directed to upload this data as soon as it was received from SBI.

Father: Hmm, what did the Supreme Court tell SBI exactly?

Dev: “To fully effectuate the court’s Feb 15 judgment and March 11 order, and to avoid any controversy in the future, the SBI chairman shall file an affidavit on or before 5 pm on Thursday indicating that SBI has disclosed all details of the EBs that were in its possession and custody and that no details have been withheld from disclosure,” says the Supreme Court to SBI.

Dev continues: Industry associations like Assocham, FICCI, and CII raised concerns that disclosing the alphanumeric numbers on EBs could lead to misuse by activist lawyers. However, the court rejected these objections, saying that SBI must comply with the orders without exception.

“I am sharing this article with you; check it out,” says Dav. His father immersed himself in the article, absorbing each detail with a deep sense of concentration.

Criticism of SBI’s Compliance

Father: So, a bench of judges, including Chief Justice D.Y. Chandrachud and Justices Sanjiv Khanna, B.R. Gavai, J.B. Pardiwala, and Manoj Misra, scolded SBI for not meeting the expectations of the Supreme Court. Which I think is right. The court had trusted SBI to fully disclose information about electoral bonds according to its February 15 judgment and March 11 directions, but SBI did not fulfil this trust.

Dev: What is SBI’s request that the Supreme Court rejected?

Father: It was about a four-month extension to disclose electoral bond details. On March 6, SBI filed a plea, and on March 11, the court rejected SBI’s plea. and they gave SBI 24 hours to comply. “We banked on SBI to be candid and fair to the court. Why has SBI not disclosed all the details? SBI’s attitude appears to be, ‘You tell us to disclose a particular detail, and we’ll disclose it’. That’s not a fair process,” says The Supreme Court to SBI.

Petitioner’s Plea and Court’s Response

Dev: Do you know that the Court also rejected Advocate Prashant Bashan’s plea?

Father: Yes, I know. Prashant Bhushan was representing the Association for Democratic Reforms. He requested that major political parties disclose the names of Electoral Bonds donors, but SC rejected it. The court rejected both the request from the NGO Association for Democratic Reforms, represented by Prashant Bhushan and his argument that the State Bank of India should disclose information about bonds purchased and redeemed before April 19, 2019. 

Dev’s father continues, “The court explained that a five-judge bench had already decided to set the cut-off date for disclosing electoral bond details as April 19, 2019, when it first ordered political parties to disclose donations received through Electoral bonds. The court stated that changing this cut-off date now would be like reversing its own decision, which it was not willing to do”

Dev: so, it means the court adhering to their decision and rejecting requests to change the cut-off date.

Father: Yes, in short, The Supreme Court to SBI ordered to disclose all details related to electoral bonds is a significant step towards ensuring transparency in political funding. The court’s criticism of SBI’s incomplete compliance highlights the importance of following court orders without exception. Now go to the college. we will talk about other updates later.

Dev: sure.

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FAQ

1. What time did the Supreme Court give to SBI for disclosing electoral bond details to the Election Commission?

Reveal all electoral bond details to the Election Commission by Thursday, 5 pm, said the Supreme Court to SBI.

2. What information should be included in the electoral bond data that will be disclosed by SBI?

The data includes details such as issuance and redemption of Electoral Bonds, unique alphanumeric numbers, and serial numbers, covering the period from April 12, 2019, to February 15, 2024.

3. Why did the Supreme Court instruct SBI to reveal electoral bond details to the Election Commission?

To Ensure transparency in political funding the Supreme Court passed orders to SBI

4. What was the Supreme Court’s response to SBI’s request for a four-month extension to disclose electoral bond details?

The Supreme Court rejected SBI’s request, emphasizing the importance of complying with its orders without exception.

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