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

CJI :You want complete anonymity?

Bhushan : No, no. I want complete transparency.

This Court has held that candidates should disclose their assets, criminal background etc. Even without a law, this Court directed that.

CJI : We take your point that there is no anonymity to the govt. Govt can always get the names.

Bhushan : Yes. Govt can take the names from the SBI 

Bhushan : The only person who wants anonymity is the person who is paying bribe to the party in power.

Bhushan says that there is no justification for the argument that anonymity is maintained for the safety of donor. Because, it is not anonymous to the Government who the donor is. Govt can track identity. But it is anonymous to everyone else.

Bhushan now refers to objections of Election Commission. They have also filed a counter-affidavit reiterating their objections, he adds.

Bhushan : They are saying at least the Reserve Bank should come to know who is the initial subscriber. Now it is issued in scripted form, like cash, and no one except SBI knows the donor identity.

CJI : Our question, if they have shown the readiness and concurrence to issue in demat form with anonymity, what is the difference?

Bhushan : I'm not sure.

CJI : Ok. We will ask the Attorney.

CJI : What is the difference between demat form and scripted form? We want someone to explain the difference.

Bhushan : Demat form will allow to track identity.

CJI : They said demat in anonymous form.

CJI : No, no. Read para 4. They (RBI) have said they are ready to do in a different way. They say that they can do it in a demat form.

Bhushan : Yes. But they have expressed concerns about money laundering.

Bhushan : RBI has noted several problems with electoral bonds.

Bhushan : RBI has said that Electoral Bonds scheme will be seen as facilitating electoral bonding and can offset the war against blackmoney.