Electoral bonds case LIVE updates: The Supreme Court on Thursday will deliver its verdict on the series of pleas which challenge the legal validity of the electoral bonds scheme. The verdict will be delivered at 10:30am on February 15, by a Supreme Court bench headed by Chief Justice of India DY Chandrachud.
A five-judge constitutional bench, headed by CJI Chandrachud, had earlier proposed exploring alternative systems for the funding of political parties while the flaws of the current system are ironed out.
The financial scheme was launched in 2018, where electoral bonds were used as instruments that can be purchased by individuals or companies from banks to present to a political party, which can in turn redeem the same for funds and donations.
The electoral bonds scheme was pitched as an alternative to cash donations made to political parties as part of efforts to bring in transparency to political funding.
According to the provisions of the scheme, only the political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than 1 per cent of the votes polled in the last elections to the Lok Sabha or a state legislative assembly are eligible to receive electoral bonds.
Feb 15, 2024 10:59 AM IST
Electoral bonds case LIVE updates: ‘Constitution does not turn blind eye…’
CJI Chandrachud said, “Constitution does not turn a blind eye only because there is a possibility of misuse. We have use the double proportionality standard. Clause 7(4) of the scheme tilts the balance is favour of informational privacy because it grants anonymity to the contributors but there is no nexus to balancing measures adopted.”
Feb 15, 2024 10:55 AM IST
Electoral bonds case LIVE updates: ‘Scheme not proportionally justified’
CJI said during the verdict, “We are of the opinion that least restrictive means test is not satisfied.. there are other means other than electoral bonds to achieve that purpose. contribution by other means of electronic transfer and electoral trusts is other restrictive means. Thus curbing black money is not a ground for electoral bonds.”
Feb 15, 2024 10:53 AM IST
Electoral bonds case LIVE updates: ‘Scheme violates RTI’
The Supreme Court holds that the Electoral Bonds scheme violates the Right to Information.
Feb 15, 2024 10:45 AM IST
Electoral bonds case LIVE updates: Unanimous decision by SC
CJI Chandrachud says, “We have arrived at a unanimous decision. There are two opinions, one by myself and another by Justice Sanjiv Khanna. Both arrive at same conclusion. There is a slight variance in the reasoning.”
Feb 15, 2024 10:43 AM IST
Electoral bonds case LIVE updates: Two separate judgements
Two separate judgments are to be delivered in the Electoral Bonds case. CJI DY Chandrachud and Justice Sanjiv Khanna have penned their separate but unanimous judgments.
Feb 15, 2024 10:41 AM IST
Electoral bonds case LIVE updates: SC bench assembles
The Supreme Court bench has assembled to deliver the verdict on the electoral bonds scheme.
Feb 15, 2024 10:32 AM IST
Electoral bonds case LIVE updates: ‘Scheme completely transparent’
After the case was filed, the Centre released its response affidavit rejecting all the allegations of potential corruption, saying that there is complete transparency in the electoral bonds scheme.
Feb 15, 2024 10:17 AM IST
Electoral bonds case LIVE updates: Verdict shortly
The verdict on the electoral bonds case is expected to be announced shortly, at 10:30 am, by the Supreme Court today.
Feb 15, 2024 10:06 AM IST
Electoral bonds case LIVE updates: BJP got ₹1300 cr through scheme
The ruling BJP received nearly ₹1300 crore through electoral bonds in the 2022-23, which was seven times more than what the Congress got in the same period through the same route.
The BJP's total contributions stood at ₹2120 crore in the 2022-23 fiscal, of which 61 per cent came from electoral bonds, according to the party's annual audited report submitted to the Election Commission. (PTI)
Feb 15, 2024 9:56 AM IST
Electoral bonds case LIVE updates: CPIM slams scheme for ‘political corruption’
Communist Party of India (Marxist) general secretary Sitaram Yechury on Tuesday likened the electoral bond scheme to the "legalisation of political corruption" and hoped that the Supreme Court would soon deliver its verdict on pleas to scrap the scheme.
Feb 15, 2024 9:45 AM IST
Electoral bonds case LIVE updates: Petitioner's case
The petitioners who filed a plea against the Electoral Bonds stated that the scheme promoted corruption and steps on the citizens' right to information about political party funding.
Feb 15, 2024 9:32 AM IST
Electoral bonds case LIVE updates: Bonds worth ₹571 cr sold in Jan
A total of 897 electoral bonds worth ₹571.8 crore were sold between January 2 and 11, with Kolkata having the highest share of 32.17% (415 bonds) worth ₹183.95 crore, the State Bank of India (SBI) said in a response to a right to information (RTI) request by commodore Lokesh Batra (retd).
Feb 15, 2024 9:17 AM IST
Electoral bonds case LIVE updates: Argument against poll funding
Shortly after the scheme was announced, several petitions were filed in the Supreme Court, including those filed by CPI(M), Congress, and some NGOs, against the constitutional validity of the electoral bonds scheme.
Feb 15, 2024 9:08 AM IST
Electoral bonds case LIVE updates: Centre's response on case
The Centre in an affidavit had said that the methodology of the Electoral Bonds scheme are "completely transparent" mode of political funding and it is impossible to get black money or unaccounted money.
Feb 15, 2024 8:53 AM IST
Electoral bonds case LIVE updates: What are electoral bonds?
An Electoral Bond is an instrument in the nature of a promissory note or bearer bond which can be purchased by any individual, company, firm or association of persons provided the person or body is a citizen of India or incorporated or established in India. The bonds are issued specifically for the purpose of contribution of funds to political parties.
Feb 15, 2024 8:38 AM IST
Electoral bonds case LIVE updates: DY Chandrachud in last hearing
During the last hearing of the case, CJI Chandrachud proposed the usage of an alternative of electoral bonds scheme till the time all the flaws in the current system are detected.
Feb 15, 2024 8:19 AM IST
Electoral bonds case LIVE updates: Verdict today
The Supreme Court bench, headed by CJI DY Chandrachud, is scheduled to announce the verdict of the case at 10:30 am today, February 15.
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