Electoral Bonds Row: SC Rejects SBI’s Plea for Extension, Orders Bank To Disclose Details By Tomorrow

New Delhi: The Supreme Court on Monday ordered the State Bank of India (SBI) to submit electoral bond donor details to the Election Commission of India (EC) by tomorrow (March 12), rejecting SBI’s plea for an extension. The court criticized SBI for delays and warned of consequences for non-compliance.

The court’s directive follows its earlier ruling on February 15, declaring the electoral bond scheme unconstitutional. SBI was instructed to furnish all electoral bond purchase details since April 12, 2019, to the EC by March 6. However, SBI sought an extension, citing complexities in the process due to donor anonymity protocols.

Senior advocate Harish Salve, representing SBI, highlighted the sensitivity of the matter, stating that donor details were kept confidential at designated branches. Nevertheless, the court emphasized the need for transparency and criticized SBI’s failure to comply promptly.

The bench stressed the importance of adhering to the court’s judgment, requiring SBI to disclose donor details without delay. A contempt petition filed by the Association for Democratic Reforms (ADR) against SBI was also dismissed.

The court ordered SBI to provide clear donor details by March 12, with the EC publishing the information on its website by March 15. Failure to comply may result in further action against SBI for disobedience.