Thing
Electoral Bonds Scheme
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Details
- What
- Bearer bonds, introduced through the Finance Act, 2017 and notified on 2 January 2018, that let individuals and companies make unlimited anonymous donations to political parties; the buyer’s identity was known only to the State Bank of India
- Status
- Declared unconstitutional by the Supreme Court on 15 February 2024
Connections (5)
- Supreme Court of India / Declared unconstitutional, 15 February 2024 / Electoral Bonds Scheme
- A five-judge Constitution Bench held that the scheme violated the voter’s right to information under Article 19(1)(a), saying information about party funding is essential to vote effectively. It also struck down the amendments made through the Finance Act, 2017 to the Representation of the People Act, the Income-tax Act and the Companies Act. The Centre had maintained that the scheme was an “absolutely transparent” mode of political funding.15 Feb 2024 · The Tribune · Supreme Court declares electoral bonds scheme unconstitutional; stops its sale forthwith
- Association for Democratic Reforms (ADR) / Challenged in a 2017 petition / Electoral Bonds Scheme
- CPI(M) / Challenged in the Supreme Court / Electoral Bonds Scheme
- Common Cause / Challenged in the Supreme Court / Electoral Bonds Scheme
- State Bank of India (SBI) / Sold the bonds and knew the buyers / Electoral Bonds Scheme