E-bonds disclosure: Contempt plea in SC against SBI

A petition has been filed in the Supreme Court seeking contempt action against the State Bank of India (SBI).

- ASHISH SINHA

The petition alleges that SBI deliberately disobeyed the apex court’s directive to submit details of contributions made to political parties through electoral bonds to the Election Commission by March 6.

Filed by two NGOs, the plea asserts that SBI’s request for an extension until June 30 to disclose the details of electoral bonds encashed by political parties was intentionally made at the eleventh hour to prevent disclosure of donor and donation amounts to the public before the upcoming Lok Sabha elections.

A bench headed by Chief Justice D Y Chandrachud acknowledged the submissions by advocate Prashant Bhushan, representing NGOs Association for Democratic Reforms and Common Cause, stating his desire for the initiation of contempt proceedings against SBI. Bhushan noted that SBI’s application is likely to be listed on March 11 and proposed that the contempt application be heard concurrently with it.

“Please send an e-mail. I will pass the order,” the CJI remarked.

SBI moved the top court on March 4, seeking an extension of time until June 30 to reveal the details of the electoral bonds that were encashed. In a landmark ruling on February 15, a five-judge constitution bench of the apex court invalidated the Centre’s electoral bonds scheme of anonymous political funding, deeming it “unconstitutional” and mandating disclosure by the Election Commission of donors, donation amounts, and recipients by March 13.