{"id":304954,"date":"2023-10-16T18:15:35","date_gmt":"2023-10-16T12:45:35","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=304954"},"modified":"2024-02-15T15:14:06","modified_gmt":"2024-02-15T09:44:06","slug":"supreme-court-refers-electoral-bonds-scheme-to-constitution-bench-legal-news","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/10\/16\/supreme-court-refers-electoral-bonds-scheme-to-constitution-bench-legal-news\/","title":{"rendered":"Supreme Court refers 2018 Electoral Bonds Scheme Case to 5-judge Constitution Bench"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Supreme Court:<\/span> In the case relating to electoral bond scheme, the full bench of Dr. DY Chandrachud, CJ., JB Pardiwala and Manoj Misra, JJ. referred the matter to Constitution Bench.<\/p>\n<p style=\"margin-bottom: 3%;\">As per the <a href=\"https:\/\/dea.gov.in\/sites\/default\/files\/Electoral%20Bonds_Press%20RELEASE_2-1-2018.pdf\" rel=\"noopener\" target=\"_blank\">press release<\/a> issued by the Ministry of Finance, the Government has notified the scheme of Electoral Bonds to cleanse the system of political funding in the country. The electoral bond would be a bearer instrument in the nature of a promissory note and an interest free banking instrument. A citizen of India or a body incorporated in India will be eligible to purchase the bond.<\/p>\n<p style=\"\">Electoral bonds were introduced through the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002928111\" rel=\"noopener\" target=\"_blank\">Finance Act, 2017<\/a>. To enable the introduction of these bonds, the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002928111\" rel=\"noopener\" target=\"_blank\">Finance Act, 2017<\/a> amended 4 Statutes:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>\n<p><a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002792123\" rel=\"noopener\" target=\"_blank\">Reserve Bank of India Act, 1934<\/a><\/p>\n<\/li>\n<li>\n<p><a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002955939\" rel=\"noopener\" target=\"_blank\">Income Tax Act, 1961<\/a><\/p>\n<\/li>\n<li>\n<p><a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002801315\" rel=\"noopener\" target=\"_blank\">Representation of People Act, 1951<\/a><\/p>\n<\/li>\n<li>\n<p style=\"margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002766251\" target=\"_blank\" rel=\"noopener\">Companies Act, 2013<\/a><\/p>\n<\/li>\n<\/ul>\n<p style=\"margin-bottom: 3%;\">Various petitions were filed before the Court challenging the amendments made to different statutes through the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002928111\" rel=\"noopener\" target=\"_blank\">Finance Act, 2017<\/a> as they have opened doors to unlimited, unconstrained funding of political parties. The said Finance Act was passed as a money bill, not requiring the assent of the Rajya Sabha. Thus, the petitions also raised an issue that the Finance Act could not be passed as a money bill.<\/p>\n<p style=\"margin-bottom: 3%;\">In 2021, the Court dismissed the application seeking a stay on the electoral bonds scheme.<\/p>\n<p style=\"margin-bottom: 3%;\">During the hearing on 10-10-2023 the Court debated whether to refer the matter to the Constitution bench but due to the urgency of the case, it decided against it. However, the Court decided to refer it to a Constitution bench due to the issue involved relating to passage of laws as money bill.<\/p>\n<p style=\"margin-bottom: 3%;\">The matter will be taken up on 31-10-2023.<\/p>\n<p style=\"font-weight: bold; margin-bottom: 3%;\">Source: Press<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p style=\"font-style: italic;\">The Finance Act, 2017 introduced a system by which electoral bonds could be issued by any scheduled bank for the purpose of electoral funding.<\/p>\n","protected":false},"author":67512,"featured_media":304968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[29618,15921,14051,61965,20601,13081,10021,56158,5363],"class_list":["post-304954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news","tag-amendments","tag-constitution-bench","tag-elections","tag-electoral-bonds-scheme","tag-finance-act","tag-income-tax-act","tag-representation-of-people-act","tag-reserve-bank-of-india-act","tag-supreme-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Supreme Court refers Electoral Bonds Scheme to Constitution Bench | SCC Blog<\/title>\n<meta name=\"description\" content=\"Supreme Court 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Court strikes down Electoral Bonds Scheme for being violative of right to information under Art. 19(1)(a) of Constitution","author":"Apoorva","date":"February 15, 2024","format":false,"excerpt":"The 5-Judge Constitution Bench heard a batch of cases challenging the controversial electoral bonds scheme over three days, before reserving the verdict in November.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Electoral Bond Scheme","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/URGENT-1-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/URGENT-1-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/URGENT-1-1.webp?resize=525%2C300&ssl=1 1.5x, 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Accordingly, it issued notice to the SBI and directed the matter to be posted for 18-03-2024.","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"electoral bonds","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/electoral-bonds.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/electoral-bonds.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/electoral-bonds.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/electoral-bonds.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":317105,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/03\/15\/electoral-bond-case-supreme-court-notice-sbi-disclose-eb-unique-numbers-revealing-link-between-donors-political-parties\/","url_meta":{"origin":304954,"position":2},"title":"[Electoral Bond Case] Supreme Court directs SBI to disclose EB unique numbers revealing link between donors and political parties","author":"Apoorva","date":"March 15, 2024","format":false,"excerpt":"On 12-03-2024, SBI has furnished the electoral bonds details to the Election Commission of India in compliance with the court's order. Subsequently, on 14-03-2024 ECI uploaded the electoral bonds data supplied by SBI on its official website.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Electoral Bond Case","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Electoral-Bond-Case.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Electoral-Bond-Case.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Electoral-Bond-Case.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Electoral-Bond-Case.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":316663,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/03\/11\/supreme-court-dismisses-sbi-plea-extension-of-time-furnish-information-electoral-bonds-directs-disclosures-march-12\/","url_meta":{"origin":304954,"position":3},"title":"Supreme Court dismisses SBI plea for extension of time to furnish information relating to Electoral Bonds; Directs disclosures by March 12","author":"Apoorva","date":"March 11, 2024","format":false,"excerpt":"Supreme Court has directed Election Commission of India to compile the information and publish the details in its official website no later by 15-03-2024 by 5 PM.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Electoral Bonds","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/sbi-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/sbi-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/sbi-1.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/sbi-1.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":213594,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/04\/12\/sc-asks-all-parties-to-submit-details-of-political-funding-received-through-electoral-bonds\/","url_meta":{"origin":304954,"position":4},"title":"SC asks all parties to submit details of political funding received through electoral bonds","author":"Prachi Bhardwaj","date":"April 12, 2019","format":false,"excerpt":"Supreme Court: The 3-judge bench of Ranjan Gogoi, CJ and Deepak Gupta and Sanjiv Khanna, JJ has directed\u00a0all the political parties who have received donations through Electoral Bonds to submit, detailed particulars of the donors as against each Bond; the amount of each such bond and the full particulars of\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":246252,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/03\/29\/electoral-bonds-scheme-not-behind-iron-curtains-incapable-of-being-pierced-read-why-supreme-court-refused-to-interfere-with-the-scheme\/","url_meta":{"origin":304954,"position":5},"title":"&#8216;Electoral Bonds Scheme not behind iron curtains incapable of being pierced&#8217;; Read why Supreme Court refused to interfere with the Scheme","author":"Prachi Bhardwaj","date":"March 29, 2021","format":false,"excerpt":"\u201cAll that is required is a little more effort to cull out such information from both sides (purchaser of bond and political party) and do some \u201cmatch the following\u201d.\"","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/304954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67512"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=304954"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/304954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/304968"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=304954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=304954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=304954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}