Supreme Court orders full disclosure of electoral bond details by SBI
Emphasizing the importance of full disclosure, the court cautioned against selective disclosure by the SBI. Senior advocate Harish Salve, representing the SBI, assured the court that the bank would comply with the directive and provide the Electoral Bond numbers.
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FollowThe Supreme Court on Monday (March 18) directed the State Bank of India (SBI) to disclose all details related to the Electoral Bonds, including the bond numbers, in response to a petition seeking transparency in electoral funding.
Highlighting the importance of full disclosure, the top court cautioned against selective disclosure by the SBI. Senior advocate Harish Salve, representing the SBI, assured the court that the bank would comply with the directive and provide the Electoral Bond numbers.
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The Supreme Court further instructed the SBI to file an affidavit confirming that it has not withheld any information regarding Electoral Bonds. SBI reiterated its commitment to transparency, stating that it would furnish all relevant information in its possession without reservation.
On Friday, the apex court took notice of discrepancies in the disclosure process. It also highlighted the SBI's failure to fully comply with its earlier directives, prompting the issuance of a notice to the public sector bank.
The electoral bonds data on the ECI's website indicated that Future Gaming and Hotel Services emerged as the top purchaser. However, during the ECI's appeal hearing, the Supreme Court bench voiced apprehensions regarding incomplete information.
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Specifically, the absence of alphanumeric numbers linked to the bonds was highlighted as pivotal for transparency in identifying purchasers and parties redeeming the bonds.
The Supreme Court also gave SBI chairman March 21, 2024, 5 pm as deadline to file affidavit indicating that bank has disclosed all details of electoral bonds.
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