Source: 
Financial Express
https://www.financialexpress.com/india-news/after-year-long-hiatus-supreme-court-likely-to-hear-electoral-bonds-case-on-september-19/2669163/
Author: 
India News Desk
Date: 
16.09.2022

The EC raised serious concerns with respect to the amendment made to the Representations of People’s Act, 1951 (RPA), which will allow political parties to not report their contributions to the central election body. The EC said that it would not be possible to determine whether the donations have been received from government companies or foreign donors, which amount to the violation of Section 29B of the RPA.

The Supreme Court is likely to take up all the pending cases against the issue of electoral bonds on September 19. The petition challenging the Electoral Bonds Scheme filed by NGO Association for Democratic Reforms (ADR) features in the advance list of the apex court published for September 19.

In the ongoing case against the scheme, the petitioner had challenged the anonymity clause attached to the donations made by bond owners and claimed that it hinders the process of a fair and transparent election, pleading before the top court to immediately halt the process of issuance of any fresh electoral bonds ahead of the state assembly polls during that period.

Dismissing the application on March 26, 2021, then CJI SA Bobde-led bench noted that the anonymity question doesn’t arise as the identities of the bond owners are easily available. In its order, the SC ruled that “it is not as though the operations under the Scheme are behind iron curtains incapable of being pierced”.

Referring to its earlier judgements, the top court pointed out that there are “certain safeguards” in place, and the bonds have been furnished in the past without any great difficulty.

“Therefore, in the light of the fact that the Scheme was introduced on 2.1.2018; that the bonds are released at periodical intervals in January, April, July and October of every year; that they had been so released in the years 2018, 2019 and 2020 without any impediment; and that certain safeguards have already been provided by this Court in its interim order dated 12.4.2019, we do not see any justification for the grant of stay at this stage. Hence both the applications for stay are dismissed,” the top court had stated, reported The Indian Express.

The SC, referring to its April 12, 2019 interim order, dismissed ADR’s prayer for staying of electoral bonds, stating that the details of the donations through the bonds, whenever they were released periodically, were submitted to the Election Commission without any delay.

Pointing out the reservations held by the RBI and the EC, the ADR had again moved the top court seeking a stay on the furnishing of electoral bonds, stating that the donor’s identity was hidden from the public.

The EC raised serious concerns with respect to the amendment made to the Representations of People’s Act, 1951 (RPA), which will allow political parties to not report their contributions to the central election body. The EC said that it would not be possible to determine whether the donations have been received from government companies or foreign donors, which amount to the violation of Section 29B of the RPA.

The top court noted that the donors had to undergo KYIC norms before purchasing of such bonds which were only issued and encashed by the SBI. Stating that the information of any donor would be readily available to the SBI, the SC said that the expenses incurred in the buying and selling of bonds through the bank would eventually reflect in the donor’s financial statements.

In order to preserve the privacy of the donors, the information about them have been kept anonymous, the central government has said.

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