“Unconstitutional…” Supreme Court gives big verdict on Electoral Bonds Scheme

Updated:2 years, 5 months ago

New Delhi, February 15 (ANI): The Supreme Court of India on February 15 struck down the Electoral Bonds scheme calling it unconstitutional. The bench was ruling on a batch of pleas challenging the legal validity of the Central govt’s Electoral Bonds Scheme. Notably, the scheme allowed anonymous funding to political parties through the purchase of electoral bonds. A 5-judge bench including Chief Justice of India DY Chandrachud asserted that the scheme violates Article 19(1)(a) of the Constitution. An electoral bond is an instrument in the nature of a promissory note or bearer bond which can be purchased by any individual, company, firm. The bonds are issued specifically for the purpose of contribution of funds to political parties. The Apex Court has also asked the State Bank of India to share all the information related to bonds to ECI. Several petitions were filed against the Electoral Bonds scheme which was introduced in the year 2018.

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“Unconstitutional…” Supreme Court gives big verdict on Electoral Bonds Scheme

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