Supreme Court to hear electoral bond case today, SBI seeks time till June 30 – India TV Hindi

The Supreme Court will hear the electoral bond case.- India TV Hindi.

Image source: ANI
The Supreme Court will hear the electoral bond case.

New Delhi: A hearing will be held in the Supreme Court today on SBI’s petition in the matter of giving information about electoral bonds. Let me tell you that SBI has asked for time till June 30 to provide the information. In fact, a five-judge constitution bench of the Supreme Court will today hear a plea by the State Bank of India (SBI), with a deadline of 30 days to disclose details of every electoral bond converted into cash by political parties. An extension to June has been requested. A bench headed by Chief Justice DY Chandrachud will also hear the petition to initiate contempt of court proceedings against SBI. The petition alleged that the SBI “willfully” violated the Supreme Court’s directive to submit to the Election Commission details of donations received by political parties through electoral bonds by March 6.

The court canceled the plan.

The Supreme Court in a landmark judgment on February 15 struck down the electoral bond scheme as “unconstitutional” and ordered the Election Commission to disclose the donors, donations and recipients by March 13. was given Ordering the immediate closure of the scheme, the court directed the authorized bank SBI under the scheme to submit the details of election bonds purchased from April 12, 2019 to the Election Commission by March 6. Also, the commission was asked to publish this information on its website by March 13. On March 4, SBI had requested the Supreme Court to give time till June 30 to disclose details of electoral bonds cashed by political parties.

SBI argued.

In its application, SBI has argued that it will take time to complete the process. The plea said that ‘decoding’ of electoral bonds and matching donations with donors would be a complicated process. “Data on bond issuance and data on conversion of bonds into cash are in two different places,” argues the petition. This has been done to protect the privacy of the donors. The application states that the details of the donors are kept in sealed envelopes at designated branches (banks) and these sealed envelopes are kept safe until the application is filed. are deposited at the main branch of the bank, which is in Mumbai.

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