Supreme Court
State Bank of India (SBI) has sought more time from the Supreme Court to submit details of electoral bonds to the Election Commission. SBI has filed a petition in the court demanding extension of time till June 30 to submit the details of electoral bonds. The Supreme Court had earlier asked SBI to submit the details by March 6.
The bank gave this argument in the court
Filing a petition before the Supreme Court, SBI argued that the process of retrieving information from “each silo” and matching the information from one “silo” to the other would take time. The top court had also directed SBI to share the details, including “the date of purchase of each electoral bond, the name of the purchaser of the bond and the value of the electoral bond purchased.
Said this in the petition
The petition said that “decoding” the electoral bonds and matching the donations made by the donors would be a complex process. In a historic judgment on February 15, the court had struck down the electoral bond scheme to finance politics, terming it ‘unconstitutional’ and directing it to provide information on donors, bond values ​​and their recipients.
Supreme Court had given a historic decision
In its judgment months before the Lok Sabha elections, the top court had ordered SBI to disclose the names of donors in the six-year-old scheme to the Election Commission. A five-judge Constitution bench headed by Chief Justice DY Chandrachud had directed that SBI will have to provide details of all electoral bonds paid by political parties. It said the details should also include the date on which the bond was encashed and the amount. Also, complete details should be presented before the Election Commission by March 6.
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