The Supreme Court refused to stay the sale of electoral bonds, saying enough protection already existed
The Indian Election Commission has opposed the period of Election bonds, by saying that they are not opposed to Electoral bonds but want more transparency.
Supreme Court bench consisting of the CJI SA Bobde, justice AS Bopanna, and Justice V Ramasubramanian
The Supreme Court on Friday rejected an application that had asked to stay in the sale of election bonds ahead of the upcoming state assembly elections in West Bengal, Assam, Kerala, Tamil Nadu, and Puducherry. The Supreme Court bench consisting of the CJI SA Bobde, justice AS Bopanna, and Justice V Ramasubramanian refused to continue to stay release a series of new Election bonds ahead of assembly elections in five states.
Association for Democrat Reform (ADR)
Hearing the petition submitted by the Association for Democrat Reform (ADR) an NGO looking for temporary stay to sell Election bonds, CJI Bobde said, “because bonds were allowed to be released in 2018 and 2019 without interruption, and the protection was sufficient there, there was no justification for Still the current selection bond “.
Illegal and illicit funds to Political parties through the Shell company
Activist-Advocate Prashant Bhushan, who represents controversial NGOs, has claimed that there are serious concerns that every sale of further Election bonds before the upcoming country selection in West Bengal, Tamil Nadu, Kerala, and Assam, will further increase the illegal and illicit funds to Political parties through the Shell company.
Indian election commission has opposed the stay from the sale of bonds
The petition has been looking for that the APEX court should not open the window for EBS sales during the suffering of instant writ petitions.
However, the Indian election commission has opposed the stay from the sale of Election bonds. ECI has submitted that they are not against selection bonds but want more transparency. Election bonds are one step forward of the countless cash system, ECI said. Transparency problems can be considered at the stage of the final argument, and there should be no stay, ECI argues.
The Attorney General stressed that bonds ensured that political funds were completely diverted through the banking channel, thus eliminating black money.
Electoral bonds:
Election bonds have been proposed as a way to reform election funding in the 2017 Union budget. Introduced with Bill Finance 2017, electoral bonds are instruments or securities that can be used to contribute funds to political parties.
Election bonds, which were notified in 2018, ensured that funds collected by political parties were taken into account with clean money.
Every individual who wants to contribute to political parties can buy this bond by making digital payments or through checks at the State Bank of India. Then they can provide Election bonds to registered politics. Political parties can change these Electoral bonds again to money through their bank account.
