1. On February 15, the Supreme Court of India delivered a landmark verdict, declaring the Electoral Bond scheme unconstitutional.
2. The scheme, criticized for allowing anonymous funding to political parties, faced legal challenges, ultimately leading to a unanimous decision by a five-judge bench.
3. This decision marks a significant development in electoral financing laws in India, emphasizing transparency and accountability in political funding.
New Delhi, Feb 15: In a landmark verdict on February 15, the Supreme Court of India struck down the controversial Electoral Bond scheme, terming it ‘unconstitutional’.
The scheme, which allowed for anonymous funding to political parties, faced a flurry of legal challenges, culminating in a unanimous decision by a five-judge bench.
Led by Chief Justice of India DY Chandrachud, along with Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra, the apex court delivered a historic ruling on petitions challenging the electoral bonds scheme’s legal validity.
The bench, after hearing the matter and reserving the verdict on November 2 last year, concluded that the scheme violates constitutional principles.
Chief Justice DY Chandrachud, in delivering the judgment, emphasized the importance of transparency in the electoral process, stating that political parties are pivotal entities in the democratic framework and that information about their funding is essential for making informed electoral choices.
The Supreme Court’s decision underscores concerns regarding the scheme’s potential to facilitate clandestine donations and the opacity surrounding corporate contributions.
The bench particularly highlighted the issue of ‘selective anonymity’, where the ruling party could access donor information while withholding it from opposition parties, raising questions about fairness and accountability.
Furthermore, the removal of a condition limiting corporate donations to political parties to 7.5% of their net profits came under scrutiny during the hearings.
The court expressed apprehensions about the scheme’s susceptibility to misuse and its potential to legalize kickbacks for political favors.
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As part of its directives, the bench instructed the Election Commission of India (ECI) to provide details of contributions received by all political parties through electoral bonds until September 30.
This move aims to shed light on the extent of corporate influence in political funding and ensure greater transparency in the electoral process.
The Supreme Court’s verdict marks a significant milestone in upholding democratic principles and ensuring accountability in political financing.
By striking down the electoral bonds scheme, the court has reaffirmed the importance of transparency and integrity in the electoral system, signaling a pivotal moment in India’s democratic journey.
