Key Points
The Supreme Court on Friday strongly disapproved of State Bank of India (SBI)s decision to not disclose the unique serial number linked to each electoral bond (EB) when supplying the Election Commission of India (ECI) with information about bond beneficiaries and donors for public release.P)..
Under the 2018 EB scheme, which was quashed by the Supreme Court on February 15, each electoral bond is imprinted with a unique number that can assist in tracking the issuance and redemption of bonds, and in tracing the bond back to the purchaser..
Appearing for some of the petitioners, senior counsel Kapil Sibal and advocate Prashant Bhushan contended that the bank was in breach of the judgment, which made it clear that all details available with SBI regarding the bonds purchased and redeemed since April 2019 must be supplied to the ECI..
On Wednesday, the SBI chairman had filed his affidavit of compliance in the Supreme Court, informing it that the entire details of EBs purchased since April 1, 2019, have been submitted to ECI by the deadline set down by the court in its order on Monday. . The affidavit of SBI chairman Dinesh Kumar Khara stated that the documents furnished to ECI include two sets of information -- one containing the names of political parties and the details regarding the bonds redeemed by them, while the other set contains the details of EB purchasers..
SBI earlier this month approached the Supreme Court with a plea for granting it time till June 30 to submit details of EBs purchased since April 12, 2019, arguing that decoding the data and matching donors to recipients would be a complex process..
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