In a significant turn of events, the Supreme Court of India has reprimanded the State Bank of India (SBI) for its failure to comply with the court’s order regarding the disclosure of electoral bond details. The court, during the hearing, questioned the SBI’s actions over the past 26 days and directed the bank to disclose the required information by the close of business hours on March 12.
The Supreme Court’s directive comes as a response to SBI’s application seeking an extension until June 30 to reveal the details of electoral bonds encashed by political parties before the scheme was invalidated. Rejecting this plea, the apex court gave SBI a deadline of March 12, emphasizing the importance of transparency in the electoral process.
The bench, led by Chief Justice of India DY Chandrachud, expressed disappointment over SBI’s apparen
t reluctance to adhere to the court’s order. It asserted that the bank simply needs to open the sealed cover, compile the details, and provide them to the Election Commission, reiterating the importance of a “plain disclosure” as per the court’s judgment.
Furthermore, the court warned SBI of contempt proceedings if it fails to comply with the specified timelines. The bench underscored that while it refrains from immediate contempt action, continued non-compliance may lead to such measures in the future.
The controversy surrounding electoral bonds stems from the court’s earlier decision, invalidating the government’s electoral bond scheme and mandating the disclosure of donor information, donation amounts, and recipients. The court had instructed SBI, the designated financial institution for the scheme, to furnish these details to the Election Commission by March 6, with the Commission then tasked with publishing the information on its official website by March 15.
SBI’s Delay
Several stakeholders, including NGOs and political figures, have voiced concerns over the delay in disclosing electoral bond information, alleging deliberate attempts to conceal crucial details ahead of the upcoming Lok Sabha elections. These voices highlight the fundamental importance of transparency in ensuring a fair and democratic electoral process.
As the deadline looms, all eyes are on the State Bank of India to fulfill its obligation to transparency and accountability in electoral funding, as mandated by the highest court of the land.
This development underscores the critical role of institutions in upholding democratic principles and ensuring the integrity of electoral processes. With public scrutiny mounting, the onus lies on authorities to prioritize transparency and uphold the sanctity of democratic ideals.
