Key Points
With the General Elections in India are round the corner, the Supreme Court of India on Thursday delivered a landmark judgment in issuance of electoral bonds, striking down the scheme and terming it 'unconstitutional' and noted that electoral bonds are violative of right to information, Article 19(1)(a)...
Meanwhile, it has also issued certain guidelines for the issuing bank as well as the corporates...
The top court has asked the issuing bank, the State Bank of India, to stop rolling out bonds and that it has been directed to submit details of bonds purchased since April 2019 to this date to the Election Commission of India (ECI) by March 6...
"The details shall include the date of purchase of each electoral bond, the name of the purchaser of the bond and the denomination of the electoral bond purchased," Chief Justice of India (CJI) D Y Chandrachud said.. Further, the election body has been directed to make all information received from the SBI, public via its website, by March 13...
Electoral Bond are a bearer instrument in the nature of a Promissory Note and an interest free banking instrument, which can only be purchased by a citizen of India or a body incorporated in India. 2. Who issues electoral bonds?..
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