Assembly polls 2021: SC dismisses ban on sale of electoral bonds, fresh ones to be issued from April 1
The Supreme Court said that fresh electoral bonds can be issued from April 1. The decision was based on the Election Commission’s argument that it approved the use of the bonds since, without it, political parties would deal in hard cash.
FollowThe Supreme Court on Friday dismissed an application seeking to bar sale of Electoral Bonds ahead of the upcoming elections in West Bengal, Assam, Kerala, Tamil Nadu and Union Territory of Puducherry in March-end and April.
The Supreme Court said that fresh electoral bonds can be issued from April 1. The decision was based on the Election Commission’s argument that it approved the use of the bonds since, without it, political parties would deal in hard cash. The poll panel, however, also said it was keen on bringing in more transparency into the transactions involving the bonds.
"...In light of the scheme introduced in 2018 and the fact they have been released in 2018, 2019, and 2020 without impediment, we do not see any reason to stay the issuance at this stage," a bench, headed by CJI SA Bobde and comprising justices AS Bopanna and V Ramasubramanian, stated in the order.
The order was on an application filed by NGO Association for Democratic Reforms (ADR) seeking an interim direction to bar the sale of electoral bonds. The bench had, on Wednesday, reserved the order that sought to seek a direction to the Centre and others not to open any further window for sale of electoral bonds ahead of the upcoming assembly elections and also during the pendency of a PIL pertaining to funding of political parties and alleged lack of transparency in their accounts.
"The petitioner seeks that no further opening of window for the sale of EBs be allowed during the pendency of the instant writ petition," the application stated.
"the Electoral Bonds Scheme has opened the floodgates to unlimited corporate donations to political parties and anonymous financing by Indian as well as foreign companies which can have serious repercussions on the Indian democracy," the plea argued.
