Supreme Court To Hear SBI's Plea For Extension In Electoral Bonds Case Today

The SBI's plea, seeking an extended timeframe until June 30, will be reviewed by a five-judge Constitution bench. On February 15, the bench declared the Centre's electoral bonds scheme unconstitutional.

The Supreme Court is scheduled to hear the State Bank of India's plea for an extension to provide details regarding electoral bonds on Monday, following the bank's inability to meet the court's March 6 deadline. The SBI's plea, seeking an extended time until June 30, will be reviewed by a five-judge Constitution bench headed by Chief Justice of India DY Chandrachud and comprising Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra. The session is set to commence at 10:30 am. 

The bench had previously directed the national bank to provide details on each electoral bond encashed by political parties prior to the scheme's cancellation last month. The court will also address a separate plea filed by non-profits Association for Democratic Reforms and Common Cause, accusing the SBI of contempt for allegedly deliberately disregarding the court order to submit details by March 6. 

SC Pronounced Electoral Bonds Unconstitutional 

On February 15, the bench declared the Centre's electoral bonds scheme unconstitutional, citing violations of people's right to information, Article 14 of the Constitution ensuring equality, and the principles of free and fair elections. The judges had ordered the Election Commission to disclose donor details, donation amounts, and recipients on its website by March 13. 

The court had also mandated the SBI to furnish details of bonds purchased since April 12, 2019, to the Commission by March 6. On March 4, the SBI requested the court to extend the deadline until June 30, due to the time-consuming nature of retrieving information while maintaining anonymity.  

Congress’s Accusations 

The Congress party has accused the BJP of using the SBI as a shield and suggested that the extension request is a tactic to conceal data until the upcoming Lok Sabha election. 

Highlighting the SBI's extensive technological capabilities with 48 crore bank accounts, 66,000 ATMs, and nearly 23,000 branches, the Congress questioned the need for a five-month period to provide data on just 22,217 electoral bonds. 

The Supreme Court of India had ordered that before March 6, the SBI should reveal the names of the individuals who have purchased electoral bonds.

The SBI is now seeking an extension of the deadline until June 30. Data can be revealed within 24 hours, but the SBI is seeking… pic.twitter.com/Kht5JLE30X

— Congress (@INCIndia) March 5, 2024