SC issues notice to SBI for non-disclosure of Electoral Bonds' numbers

The Supreme Court has criticized the State Bank of India (SBI) for its failure to provide Electoral Bonds data with unique alphanumeric numbers, which are essential for identifying the bonds. As a result, the court has issued a notice to the bank and sought its response by Monday.

A five-judge Constitution bench, comprising Chief Justice of India DY Chandrachud and Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra, expressed dissatisfaction with SBI's compliance with its March 11 order. In that order, the bank was instructed to disclose all details related to Electoral Bonds.

The apex court emphasized that its previous judgment clarified the necessity of making all Electoral Bond details available, including the date of purchase, name of the purchaser, and the denomination. However, it was revealed that SBI had not disclosed the alphanumeric numbers associated with the Electoral Bonds.

Consequently, the bench directed the Supreme Court's Registry to issue a notice to SBI, returnable on Monday. Additionally, the Election Commission of India's (ECI) request for the return of Electoral Bonds' documents, previously submitted in sealed cover, was granted by the court.

The ECI informed the bench that it had not retained any copies of these documents to maintain confidentiality and sought their return to fulfill the court's directive of uploading the data on its website.
The apex court instructed its Registrar Judicial to ensure the scanning and digitization of documents, after which the original documents would be returned to the ECI. The ECI will then upload them on its website by March 17.

During the hearing, the apex court expressed its concern over SBI's non-disclosure of the bond numbers, emphasizing the bank's obligation to do so. Solicitor General Tushar Mehta urged the court to issue notice to the bank, indicating that they might have relevant information to provide.

In a previous verdict in February, the Supreme Court had invalidated the Electoral Bonds Scheme, which allowed for anonymous funding to political parties, and directed SBI to cease issuing Electoral Bonds immediately. The court had also struck down amendments made to the Income Tax Act and the Representation of People Act, which had enabled anonymous donations.

The court's decision to seek clarification from SBI underscores the ongoing legal battle surrounding electoral funding and transparency in India's political landscape.