The Election Commission of India shall upload the details forthwith on receipt of the communication by SBI: Supreme Court
FinTech BizNews Service
Mumbai, March 19, 2024: The Supreme Court of India on March 18, 2024 directed the State Bank of India (SBI) to make a complete disclosure of all details in its possession, and also comprehend the alphanumeric number and serial number of the Electoral Bonds which were purchased and redeemed.
A five-member constitution bench, headed by CJI Dr Dhananjaya Y Chandrachud, further said: “The Election Commission of India shall upload the details forthwith on receipt of the communication by SBI.”
The Supreme Court order reads as follows:
1 On being mentioned, the Miscellaneous Application is taken on Board.
2 In sub-paragraphs b and c of paragraph 221 of the judgment of this Court, dated 15 February 2024, the direction to the State Bank of India, are to submit details of the
(i) Electoral Bonds purchased; and
2 (ii) Political Parties which have received contributions through Electoral Bonds.
3 This information has to be submitted since the date of the interim order dated 12 April 2019. In other words, all details which have been directed to be furnished in the operative directions of this Court are to be submitted with effect from 12 April 2019.
4 The relief which has been sought in the Miscellaneous Application for pre-dating the point of disclosure would amount to a substantive modification of the judgment. Hence, it cannot be dealt with in a Miscellaneous Application.
5 The Miscellaneous Application is, therefore, not maintainable and is accordingly dismissed.
Miscellanoues Application No 596 of 2024
6 By the judgment of this Court dated 15 February 2024, this Court directed the disclosure of information on contributions received by political parties under the Electoral Bond Scheme to give logical and complete effect to the ruling.
7 Thereafter, in paragraph 221, this Court issued operative directions. These directions in sub-paragraph ‘b’ and ‘c’ are in two parts. Sub paragraph ‘b’ requires SBI to submit details of the Electoral Bonds purchased since the interim order dated 12 April 2019 till date to the ECI. Such details, the Court has indicated, shall include the date of purchase of each Electoral Bond, the name of the purchaser of the bond and the denomination of the Electoral Bonds purchased. Under the second part of the operative directions in sub-paragraph ‘c’, SBI was required to submit the details of political parties which have received contributions through the Electoral Bonds since the interim order dated 12 April 2019 till date to ECI.
SBI was required to disclose details of each Electoral Bond encashed by political parties inclusive of the date of encashment and the denomination of the Electoral Bond.
8 A plain reading of paragraph 219 of the order dated 15 February 2024 indicates that SBI was required to submit all details, both in terms of the purchase and in terms of the receipt of contributions. The expression includes in both sub-paragraphs ‘b’ and ‘c’ demonstrate that the inclusive part is illustrative and no exhaustive of the nature of the disclosure which is to be made by SBI.
9 In other words, SBI is required to make a complete disclosure of all details in its possession. This will also comprehend the alphanumeric number and serial number of the Electoral Bonds which were purchased and redeemed.
10 Mr Harish N Salve, senior counsel appearing on behalf of the SBI, states that there is no reservation on the part of the SBI in disclosing all details which are in its possession and custody.
11 In order to fully effectuate the judgment and to obviate any controversy in the future, we direct that the Chairman and the Managing Director of SBI shall file an affidavit on or before 5.00 pm on 21 March 2024 indicating that SBI has disclosed all details of the Electoral Bonds which are in its possession and custody and that no details have been withheld from disclosure in terms of the directions contained in paragraph 221 of the judgment dated 15 February 2024.
12 The Election Commission of India shall upload the details forthwith on receipt of the communication by SBI.
