SC Turns Down PIL Seeking Probe Into Electoral Bond Scheme

New Delhi: The Supreme Court on Friday turned down petitions demanding an investigation by a Special Investigation Team (SIT) under judicial supervision into an alleged scam in electoral financing using electoral bonds (EBs).

On February 15, the apex court scrapped the scheme stating that it completely ‘anonymised’ political donations.
A PIL seeking the probe was filed by two non-governmental organisations (NGOs). They had alleged an ‘apparent quid pro quo’ between political parties, corporations and investigative agencies.

The plea had sought a direction to authorities to investigate the source of funding of ‘shell companies and loss-making companies which made donations to various political parties’, as has been disclosed by the data released by the Election Commission (EC).

The petition also sought a direction to the authorities to recover the money donated by companies as part of “quid pro quo arrangements where these are found to be proceeds of crime,” an Indian Express report stated.
Earlier, a five-judge Constitution bench had junked the electoral bonds scheme of anonymous political funding, introduced by the BJP government.

Following the apex court’s previous order, the State Bank of India, the authorised financial institution under the scheme, had reportedly shared the data with the EC. Later, EC made it public.

The electoral bonds scheme was notified by the government on January 2, 2018. It was presented as an alternative to cash donations made to political parties as part of the government’s efforts to maintain transparency in political funding.