Chief Justice of India Sharad A. Bobde on Thursday agreed with advocate Prashant Bhushan to hear a plea by the NGO Association for Democratic Reforms to ban the sale of a new electoral bond on April 1 ahead of assembly elections in important states of the West. Bengal and Tamil Nadu.
Responding to an urgent mention made by Mr. Bhushan through video conferencing, Chief Justice Bobde said that the matter required a detailed hearing and posted the matter for March 24.
Mr. Bhushan said that both the Reserve Bank of India (RBI) and the Election Commission have said that the sale of electoral bonds is a revenue for shell corporations and institutions to create illegal money and even increase the income of bribes with political parties. Has been made.
“Every time there is an election, the sale is opened. Whenever this happens, we have gone to the Supreme Court to stop it, ”said Mr. Bhushan.
“But what has not been denied before?” Chief Justice Bobde asked.
“Not so, but the parties were asked to submit records in seal cover… but a proper stay would have to be considered. There are two documents of RBI and Election Commission which say that electoral bond scheme is harmful to democracy, ”said Mr. Bhushan.
Comment Ensuring confidence in the electoral process
Solicitor General Tushar Mehta informed the Chief Justice that Attorney General KK Venugopal would be present in the case.
“Their presentations in the Maratha quota case will start from today [March 18] And he can finish it by wednesday [March 24], ”Said Mr. Mehta.
“Surely, he will find time in such a case!” Chief Justice Bobde retaliated.
NGO’s arguments
The NGO, also represented by advocate Neha Rathi, has expressed grave apprehension that the sale of electoral bonds before the elections in states “will further increase the illegal and illicit funds of political parties through shell companies”.
Its application reminded the court that both the central bank and the poll panel had objected to the electoral bond scheme.
“The data obtained through RTI has revealed that illegal sale windows have been opened in the past to benefit some political parties… There is a serious apprehension that any such before the upcoming state elections in West Bengal, Tamil Nadu, Kerala Electoral bonds will be sold. The NGO said that Assam will further increase the illegal and illicit funds of political parties through shell companies.
It added that the scheme “opened the doors to unlimited political donations even from foreign companies, leading to electoral corruption on a large scale, while at the same time ensuring complete non-transparency in political money”.
Government approach
The government notified the scheme on January 2, 2018. It defended the plan in court, saying it allowed anonymity to protect political donors from “political persecution”.
The Finance Ministry’s affidavit in the apex court rejected the Election Commission’s version that the disqualification afforded to the beneficiaries was a “retrograde move” and would ruin transparency in political funding.
The government’s affidavit stated that the shroud of secrecy was a product of “well-thought-out policy considerations”.
It said the earlier system of cash donations had “generated concern among donors whose identity, if exposed, would put competitive pressure on the various political parties receiving donations”.
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