Electoral Bonds Case Hearing : Live Updates From Supreme Court

Bhushan: Law earlier was that you have to disclose above Rs 20000. That has been bought down to 2000. How will that reduce cash? Earlier the party said we received x crores by way of small donations below 20,000; now they'll say we received the same x cr by donation below 2000.

Bhushan: The government said that we want to reduce cash. They also said we reduced this disclosure requirement from anything above 20,000 rs to anything above 2000 rs.

Bhushan: Every company donating to an electoral trust would say that I'm giving 50 crores and I want these to be given to A and B party. So this is a semi anonymous way...

Bhushan: Any company can set up a semi anonymous electoral trust. The company persons donate to the trust. That trust donates to political parties.

Bhushan: I just want to read the justification given by government for these Electoral Bonds.

Bhushan: But government can! State Bank can. Though state bank is prohibited by law to disclose but the state Bank has the information.

Bhushan: Mix and match cannot be done by the ordinary citizens. There are 23 Lakh registered companies in India. I would have to scan and go through all companies' disclosure...

Bhushan: At one point the government had said that there is atleast some transperancy because the company which purchases has to disclose, political party which receives has to disclose - not the identity but how much the total is. They say you can do mix and match to find out who donated.

Bhushan: So this information about who has purchased the bonds can be only disclosed to a law enforcement agency.

Bhushan: This restricts it to only those parties who have received atleast 1% vote - either in lok sabha or in state assembly. Not all political parties are eligible