Supreme Court directs SBI to make complete disclosure of electoral bonds details by 21 March

This is what the Court said: “…There is no manner of doubt that the SBI is required to furnish all details available with it. This, we clarify, will include the alphanumeric number and serial number, if any, of the bonds purchased. In order to avoid any controversy in the future, the chairperson of the bank should file an affidavit by 5 PM on Thursday that it has disclosed all details in its custody and that no details have been withheld.”

During the hearing, the bench, also comprising Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra, observed that the SBI can’t be selective and has to disclose all “conceivable” electoral bond details in its possession, including unique bond numbers that would disclose the link between the buyer and the recipient political party.

Also Read: What is the point of knowing the electoral bonds data?

‘SBI can’t be selective in disclosure’

In its verdict in the electoral bonds case, the bench said the apex court had asked the bank to disclose all the details of the bonds, and it should not wait for further orders on this aspect.

“We had asked the SBI to disclose all details, including electoral bond numbers. Let SBI not be selective in disclosure,” the bench orally said during the hearing.

Last week, the top court issued a notice to the country’s largest bank to explain the reasons for the non-disclosure of unique alphanumeric numbers in compliance with its directions, saying the SBI was “duty bound” to reveal them.

On 12 April 2019, the apex court issued an interim order directing that the information about the donations received and donations which will be received must be submitted by political parties to the EC in a sealed cover.

In its landmark verdict on 15 February, the top court had scrapped the Centre’s electoral bonds scheme that allowed anonymous political funding, calling it “unconstitutional”, and ordered disclosure by the EC of donors, the amount donated by them, and the recipients by 13 March.

Also Read: Full list of donor firms and how much they donated to political parties

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