SC slams SBI for “wilful disobedience”, warns of Contempt
Giving warning for Contempt of Court, the Supreme Court on Monday ordered State Bank of India (SBI) to release donor and receiver details of Electoral Bonds to Election Commission by tomorrow 5 pm March 12. The apex court also ordered the Election Commission to release the electoral bonds data in the public domain by 5 pm, March 15.
Dismissing SBI’s petition seeking an extension up to June 30, the Supreme Court warned that the public sector bank will face contempt proceedings if it does not provide the information by tomorrow. The five-judge Constitution bench of Chief Justice of India (CJI) D Y Chandrachud with Justices Sanjiv Khanna, B R Gavai, J B Pardiwala, and Manoj Misra also ordered that SBI’s Chairman and Managing Director must file an affidavit on the adherence of the Court’s order. The Bench also expressed displeasure on SBI filing an affidavit through junior officers at the Assistant General Manager level.
SBI was represented by noted lawyer Harish Salve and petitioners were represented by Kapil Sibal and Prashant Bhushan. The petitioners Association for Democratic Reforms (ADR) and CPI(M) filed a contempt case against SBI, which was supposed to release the data on electoral bonds by March 6.
“Submissions of SBI in the application indicate that info sought is readily available. thus the application by SBI seeking an extension of time until June 30 is dismissed. SBI is directed to disclose the details by the close of business hours of March 12, 2024,” the Court ordered, warning SBI of Contempt of Court, if not released the electoral bonds data by tomorrow, March 12.
“Though we are not exercising the contempt jurisdiction, but we place SBI put on notice that this court will proceed against it for wilful disobedience of court if it does not adhere to the directions issued by the court,” the order said.
“The current account by the political party only in 4 authorized branches. Thus, details of info of EB encashed by political parties will be available in these 4 branches and the slips, etc, will have to be deposited with the main bank and this process was followed,” the bench observed while rejecting the plea of SBI seeking time up to June 30.
The electoral bonds scheme implemented in 2017, allowed donors to anonymously send funds to a political party after buying bearer bonds from the State Bank of India (SBI). It was introduced dubiously through the Finance Act, of 2017, which in turn amended three other statutes – the Reserve Bank of India Act, the Income Tax Act, and the Representation of People Act. The previous month, the Supreme Court cancelled the Electoral Bonds scheme implemented by the Modi government.
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Beware the Ides of March.
As I said before, this may be the NDA’s biggest vote-burner.
PGurus – can you please clarify something – under the existing scheme, will the parties be aware of the donors’ details?
Why so much secrecy & fear on revealing electoral bonds ?
Nothing is OPEN in India. Everything is OPAQUE.
Common man is left with to face all problems, while govt & politicians play the God of fulfilling the wishes !! BJP is no good – only sloganeering & lip service.
Why should we vote at all. Let them die with parched throat, seeking votes.