Electoral Bonds Case Hearing : Live Updates From Supreme Court

LIVELAW NEWS NETWORK

31 Oct 2023 10:15 AM IST

  • Electoral Bonds Case Hearing : Live Updates From Supreme Court

    The Supreme Court will start hearing today a batch of petitions challenging the electoral bonds scheme. A Constitution bench comprising Chief Justice of India DY Chandrachud, Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra will hear the matter.The case involves a batch of petitions challenging the amendments introduced by the Finance Act 2017 paving the way for the...

    The Supreme Court will start hearing today a batch of petitions challenging the electoral bonds scheme. 

    A Constitution bench comprising Chief Justice of India DY Chandrachud, Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra will hear the matter.

    The case involves a batch of petitions challenging the amendments introduced by the Finance Act 2017 paving the way for the anonymous electoral bonds scheme.The Finance Act 2017 introduced amendments in Reserve Bank of India Act, Companies Act, Income Tax Act, Representation of Peoples Act and Foreign Contributions Regulations Act to make way for the electoral bonds.

    The petitions filed by NGOs Association for Democratic Reforms (ADR), political party Communist Party of India (Marxist) challenge the scheme results in making political fundings non-transparent as the electoral bond donors are kept anonymous. They also contend that the scheme facilitate corruption and money laundering by donation through shell companies. Refuting these contentions, the Centre stated that the scheme ensured that clean money comes to political parties through proper banking channels.

    Follow this page for live-updates from the hearing.

    Live Updates

    • 31 Oct 2023 1:03 PM IST

      Bhushan: So 59.9% of total donations are only from electoral bonds. 4600 cr received from corporate sector, 2600 cr from other sources.

    • 31 Oct 2023 1:03 PM IST

      Bhushan: The total donations received by the 31 political parties analysed during 6 year period was 16000 cr. Donations worth 9188 cr were from electoral bonds.

    • 31 Oct 2023 1:00 PM IST

      Bhushan: All these parties are in power. And the central ruling party has received more than 50%, almost 60% of the total contribution.

    • 31 Oct 2023 1:00 PM IST

      Bhushan: The only significant contributions are all to ruling parties at the centre or the states. There is no significant contribution to any party which isn't in power in centre or state.

    • 31 Oct 2023 12:58 PM IST

      Bhushan: 622 cr is received by Biju Jantadal, 431 cr is received by BMK. 111 cr is received by Shivsena. After that 48 cr is received by AAP. 24 cr by JDU...after that they're insignificant.

    • 31 Oct 2023 12:58 PM IST

      Bhushan: BJP total is 5217 crores. Out of a grand total of 9191 crores. Then 952 cr is received by Congress. 767 cr is received by Trinamool Congress. 63 cr is received by NCP. 383 cr is received by TRS. 112 cr is received by TDP. 330 cr is received by YSR.

    • 31 Oct 2023 12:52 PM IST

      Bhushan: Party wise electoral bonds declared in audit reports in last 5 years- BJP: 5271 crores. This was only up till 2021-22. After that, more than 3500 crores worth of more bonds have been purchased, that is after financial year 2021-22.

    • 31 Oct 2023 12:49 PM IST

      Bhushan: Instead of providing for greater transperancy, we are removing whatever transperancy that existed by this means.

    • 31 Oct 2023 12:47 PM IST

      Bhushan: The Supreme Court of Brazil has prohibited corporate donations to political parties by a judicial order.

    • 31 Oct 2023 12:47 PM IST

      Bhushan (reading from judgement): "Before parting with this case we think it our duty to draw the attention of Parliament to the great danger inherent in permitting companies to make contributions to the funds of political parties. It is a danger which may grow apace and which may ultimately overwhelm and even throttle democracy in this country."

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