State Bank of India (SBI) has submitted the details of electoral bonds to the Election Commission. The Supreme Court had ordered SBI to hand over the information about election donations to the Commission within 24 hours. The Election Commission said, in compliance with the order of the Supreme Court, SBI has given information about election donations today.
Let us tell you that a day before, a hearing was held in the Supreme Court on SBI's petition, in which a request was made to extend the deadline till June 30 for giving details of each electoral bond encashed by political parties. There was also a hearing on a petition in which a request was made to initiate contempt proceedings against SBI. The court, while refusing to give relief to SBI, had said that SBI should submit the information to the Election Commission by Tuesday itself. The Election Commission will make public the details of election donations.
In compliance of Hon'ble Supreme Court's directions to the SBI, contained in its order dated Feb 15 & March 11, 2024 (in the matter of WPC NO.880 of 2017), data on electoral bonds has been supplied by State Bank of India to Election Commission of India, today, March 12, 2024.
— Spokesperson ECI (@SpokespersonECI) March 12, 2024 The apex court had rejected SBI's argument.
Senior lawyer Harish Salve appeared in the Supreme Court hearing on behalf of SBI. Salve told the court that after the Supreme Court order, SBI has banned the issuance of new electoral bonds, but the problem is that with the electoral bonds that have been issued, the entire process will have to be reversed and this will take time. However, the top court refused to accept SBI's argument and ordered to provide the information by Tuesday only.
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