Electoral Bonds: ADR Files Contempt Petition as SBI Misses SC's March 6 Deadline for Details

New Delhi: As the country’s largest bank, SBI, missed its March 6 deadline set by the Supreme Court for disclosing electoral bond sale details, a contempt petition was moved in the top court on Thursday by the Association of Democratic Reforms. (ADR) a non-profit election watchdog.

 The petition was moved by senior advocate Prashant Bhushan on March 7, 2024, against the State Bank of India (SBI) for “non-compliance” with the SC’s order, reports Live Law.

Seeking “urgent listing” of the petition before the Chief Justice India D Y Chandrachud, Bhushan said t, which he country’s largest public bank had filed an application seeking extension of deadline till June 30, which is likely to be listed coming Monday, and requested that the “contempt petition be listed along with SBI’s application”, the report said.

Responding to Bhushan, the CJI asked him to send an email request with details of the application number.

ADR, which was one among those who had filed a petition opposing electoral bonds (EBs) that led to the SC verdict on February 15, 2024, declaring EBs as unconstitutional and illegal.

 In its contempt petition, as per Live Law, the ADR has accused SBI of “deliberate defiance” and sough contempt proceedings of the top court’s order against the bank. About 20 days ago, the SC had asked SBI to submit all details of EBs to Election Commission (EC) by March 6. It had also asked the EC to publish those details on its website by March 13. The process was to be completed before the announcement of the general elections, so that people could take an informed decision before voting.

Terming the SBI’s application as “mala fide” and “an attempt to thwart transparency” in the electoral process, the ADR claimed that contrary to the bank’s plea, it has the “necessary infrastructure to swiftly compile and disclose information” on EBs, adding that the bank already had an IT system for managing EBs.

Reiterating its demand for transparency in the election process, ADR’s petition said that voters had a fundamental right to know under Article 19 (1) (a) of the Constitution about the origin and details of “substantial amounts” being donated to political parties.

According to ADR, of the total number of electoral bonds worth Rs 12,008 crore sold between 2017-2018 and 2022-2023, the BJP received nearly 55% or Rs 6,564 crore. Congress received just 9.5% of all bonds sold in the five-year period at Rs 1,135 crore. The Trinamool Congress has received Rs 1,096 crore from electoral bonds in this same time period.

Former senior bureaucrat EAS Sarma, a crusader for transparency, has also called upon the Election Commission to freeze all amounts that political parties have got through the unconstitutional electoral bonds.

 Many critics of the SBIs’ move have also pointed out that if the bank has sought more time till after the Lok Sabha election process is over, then the EC or the SC should freeze all amounts that political parties have got through the unconstitutional EBs.