Electoral Bonds Row: Supreme Court to Hear SBI’s Extension Plea Tomorrow

New Delhi: The Supreme Court will on Monday hear the State Bank of India’s plea for an extension until June 30 to reveal details of electoral bonds cashed by political parties before the scheme’s recent cancellation.

This comes alongside another plea for contempt action against SBI for allegedly disregarding the Court’s directive to disclose these details by March 6. A five-judge Constitution bench, led by Chief Justice DY Chandrachud, will hear both matters on Monday at 10:30 am.

The Supreme Court on February 15 deemed the electoral bonds scheme as unconstitutional, mandating the Election Commission to disclose donor information by March 13. However, the SBI, the scheme’s financial authority, petitioned for an extension, citing the complexity of retrieving and matching data due to anonymity measures. In response, a contempt plea was filed, accusing SBI of intentionally delaying disclosure to affect the upcoming Lok Sabha elections.

The petitioners argue that electoral bonds’ traceability contradicts the essence of transparent democracy and citizens’ right to information under Article 19(1)(a) of the Constitution. They stress that public access to this information is crucial for informed voting decisions.