Plea Seeking Stay On Electoral Bonds- Live Updates From Supreme Court

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24 March 2021 11:24 AM IST

  • Plea Seeking Stay On Electoral Bonds- Live Updates From Supreme Court

    Crucial hearing in the electoral bonds case in the Supreme Court.A bench led by CJI to is hearing made by ADR seeking stay of fresh release of electoral bonds ahead of polls in WB, Kerala, Assam...

    Crucial hearing in the electoral bonds case in the Supreme Court.

    A bench led by CJI to is hearing made by ADR seeking stay of fresh release of electoral bonds ahead of polls in WB, Kerala, Assam etc.

    Live Updates

    • 24 March 2021 11:58 AM IST

      AG : Political parties have to file income tax returns.

      Except the CPI(M) and another party, no other national parties filed the returns. Case came to Supreme Court.

      SC condemned the parties and directed them to file returns.

    • 24 March 2021 11:58 AM IST

      CJI to AG : We are asking you, what is the control of govt on the money being used after encashing bonds?

      AG : The bonds are valid only for 15 days. After that, it is paper.

      CJI : What is the guarantee that the party will use it for political purposes & won't use for others

    • 24 March 2021 11:57 AM IST

      CJI : We don't want to get into political arena and don't want to comment on any political party. Suppose, there is a party which wants to finance a protest, which has the potential of violence, can't they use bonds to fund it?

    • 24 March 2021 11:55 AM IST

      SG : Only political parties can take bonds.

      CJI : There are political parties who do terrorism.

      SG : Only parties with at least 1% vote share can buy bonds.

      CJI : We are sure that there are parties who meet this criteria and have violence as an agenda.

    • 24 March 2021 11:53 AM IST

      AG : The then Finance Minister Arun Jaitley said that blackmoney was a huge menace in political funding. Therefore this bonds was devised.

      CJI : You tell us. Can someone buy the bonds and fund terrorist activities?

    • 24 March 2021 11:52 AM IST

      SG interjects to say no one can buy subsequently. SG also says to AG "KYC norms".

      AG : Yes, KYC norms.

      CJI: You are not telling us about anonymity?

    • 24 March 2021 11:52 AM IST

      Bhushan interjects : Subsequent purchaser can buy through cash.

      CJI : That can be said of any transaction, unless you make it non-transferable.

      Bhushan : That was the objection of the RBI

    • 24 March 2021 11:50 AM IST

      CJI : Are these amounts brought to tax somewhere, or are these undisclosed money?

      AG : All payments need to be through cheque, or DD, so it has to be through banking channels, so no blackmoney.

    • 24 March 2021 11:50 AM IST

      AG referring to the Union's affidavit and says that all payments have to made through banking channels.

      "Therefore, no cash, no blackmoney", AG says.

    • 24 March 2021 11:49 AM IST

      CJI : Suppose a businessman is going to buy bonds, does he have to disclose whether it is bought by white money or black money? And, does he have to pay tax on it?

      AG : Yes. 

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