Electoral Bonds- Association For Democratic Reforms Files Contempt Petition In Supreme Court After SBI Seeks Extension Of Time By Four Months

Advocate Prashant Bhushan today mentioned before the Supreme Court seeking urgent listing of a Contempt Petition filed by the Association for Democratic Reforms (ADR) against the State Bank of India (SBI). 

The Contempt Petition has been filed citing the alleged non-compliance of the judgment dated February 15 and the recent application filed by the SBI seeking extension to disclose details of electoral bonds by for months. 

Bhushan mentioned the matter before the bench led by Chief Justice of DY Chandrachud for urgent listing. He submitted that SBI has filed an application seeking an extension of four months, which is likely to be listed for hearing on Monday.

"Meanwhile, we have filed a Contempt Petition, We are requesting your Lordships, may list it along with the application of extension of the State Bank", Bhushan submitted. 

To this, the CJI asked, "Has it been numbered? Just do this, the moment the formalities are complete, ask your Junior to send an email to the Registry. Once it is verified, I will pass orders on the email. "

The Contempt Petition along with the SBI's application for extension is likely to be listed for hearing on Monday, i.e. March 11. 

The Bench headed by Chief Justice of DY Chandrachud and also comprising Justice Sanjiv Khanna, Justice BR Gavai, Justice JB Pardiwala and Justice Manoj Misra, while pronouncing the judgment in February 15, 2023, in the batch of four pleas, including those filed by Congress leader Jaya Thakur and the CPI(M) had directed: 

"SBI shall submit the above information to the ECI within 3 weeks from the date of this judgment, i.e. March 6, 2024."

In the judgment, there are two opinions of the court, one by CJI himself and Justice Gavai, Justice Pardiwala and Justice Misra and another authored by Justice Khanna. However, both arrive at the same conclusion with slight variance in reasoning. The Court had also passed other directions. 

The bench further held that the unlimited contribution by companies is unconstitutional and is manifestly arbitrary as "companies have a much greater influence on political parties than individuals. As individuals have a degree of support or affiliation to a political association.However, purely business transactions made with the intent to secure benefits in return".

The scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of efforts to bring in transparency in political funding. According to the provisions of the scheme, electoral bonds may be purchased by any citizen of India or entity incorporated or established in India. An individual can buy electoral bonds, either singly or jointly with other individuals.

Cause Title: Association For Democratics Reforms and Anr. v. Union Of India And Ors.