SC asks SBI to stop being 'selective', release all electoral bonds details

The Supreme Court on Monday told State Bank of India to stop being “selective” and make “complete disclosure” of all details related to the electoral bonds scheme by March 21, including the unique bond numbers that would reveal the link between the buyers and the recipient political parties.

The five-judge Constitution bench headed by Chief Justice of India D Y Chandrachud said there is “no manner of doubt that the SBI is required to make complete disclosure of all the details” which are in its possession.

The bench said the Election Commission shall forthwith upload on its website the details received from the SBI.
The constitution bench had struck down the electoral bond scheme launched in 2018. It had ordered the SBI to submit the details by March 6, but SBI sought time till June 30 to submit the details. The SC trashed that request and asked it submit the list by March 12. Following this order, SBI submitted the list on March 12 to the Election Commission of India.

Last Friday, the SC admonished SBI for furnishing incomplete information and issued a notice to the bank to explain the reasons for the non-disclosure of unique alphanumeric numbers.

On Monday, the bench noted the submission of senior advocate Harish Salve, appearing for the SBI, that there is no reservation on the part of the bank in disclosing all the details of electoral bonds which are in its possession.

“In order to fully effectuate the order and to obviate any controversy in the future, the chairman and managing director of SBI shall file an affidavit on or before 5 pm on Thursday (March 21) indicating that SBI has disclosed all details of the electoral bonds which were in its possession and custody and that no details have been withheld,” the bench said.

During the hearing, the bench asked the SBI to disclose all conceivable information on electoral bonds, including bond numbers.

The bench also refused a hearing on unlisted pleas of industry bodies, Associated Chambers of Commerce & Industry of India (ASSOCHAM) and Confederation of Indian Industry (CII) in the case. The industry bodies, through senior advocate Mukul Rohatgi, wanted an urgent hearing on their interim application against the disclosure of bond details.
With inputs from PTI