Supreme Court Directs SBI To Disclose All Electoral Bond Data Available With It Including Unique Alphanumeric Numbers

In the latest development in the electoral bonds case, the Supreme Court on Monday (March 18) asked the State Bank of India (SBI) to disclose all 'conceivable' details available with it regarding electoral bonds, including the alphanumeric number corresponding to each bond. It pronounced -“SBI required to make a complete disclosure of all details in its possession. This will also comprehend the alphanumeric number and serial number of the Electoral Bonds which were purchased and redeemed.”The Court stated that its February 15 judgment mandated the SBI to disclose "all details" including the date of purchase/redemption, name of purchaser/recipient, and the denomination. The use of the word "including" means that the details specified in the judgment are ilustrative and not exhaustive.The Court further directed that the Election Commission of India should upload on its website the details received from the SBI forthwith upon their receipt. This marks a significant step in the court-mandated disclosure process relating to electoral bond details, which stems from a constitution bench ruling striking down the electoral bonds scheme as unconstitutional. Previously, the apex court dismissed an application by the bank for an extension of time to furnish electoral bonds details. Following the court's rebuke, the State Bank furnished the details of electoral bonds to the Election Commission of India (ECI) in compliance with its directives. The details were provided in two separate information packets - the first containing details of the purchasers of the electoral bonds, and the second containing names of the political parties who have encashed these bonds with all the requisite details.Last week, a bench of Chief Justice DY Chandrachud, and Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra reconvened to hear an application filed by the Election Commission of India. The commission sought the return of sealed envelopes containing electoral bond details furnished previously to the apex court, stating that it did not retain copies to maintain confidentiality. In response to this, the bench instructed the registrar general to ensure the scanning and digitisation of the data by 5 PM on Saturday, after which the original copy was directed be returned to the Election Commission. The digitised files was also made available to them so that the data could be uploaded on the commission's website. Crucially, during last week's hearing, the five-judge bench stressed the need for the State Bank of India (SBI) to disclose the alphanumeric number corresponding to each electoral bond, along with the details it has already disclosed regarding the purchase and redemption of the bonds. Accordingly, it issued notice to the SBI and directed the matter to be posted for hearing on Monday, March 18.Disclosure of 'all details' mean disclosure of bond numbers too: Supreme Court Chief Justice Chandrachud emphasised the scope of disclosure required saying, “In the judgment, we had expressed asked the State Bank of India to disclose 'all details.' That includes the bond numbers as well. The bank cannot be selective in disclosing all details. Do not wait for the orders of this court.”“If the numbers are to be given, we will give them. That's no problem,” Senior Advocate Harish Salve, representing the State Bank of India, admitted. He defended the bank by saying that the current status of the disclosure on the basis of its understanding of the court's interim directive in April 2019.To this, the chief justice reiterated, “When we say 'all details,' it includes all conceivable data. This interim order has merged with our final judgment. We will clarify that and say that the State Bank of India will not only file the bond numbers but also ask it so submit an affidavit saying that it has not suppressed any details. The onus should not be on the court." During the courtroom exchange, Senior Advocate Mukul Rohatgi, representing FICCI and ASSOCHAM, sought to address the court in an attempt to convince them to defer the disclosure of the bond numbers. However, Chief Justice DY Chandrachud responded, “We have no such application on board.”When Rohatgi sought to press his application on behalf of industrialists, questioning how the information can be asked to be disclosed when there was a guarantee of anonymity, Chief Justice Chandrachud replied, "Mr Rohatgi, there is only one answer. With effect from April 12, 2019, we directed the collection of details. Everyone was put on notice at the time. This is why we did not ask the disclosure of the bonds sold prior to this interim order. This was a conscious choice by this constitution bench."Courts shoulder broad enough to deal with social media commentary: Supreme CourtThe court was also addressed by Solicitor General Tushar Mehta, who highlighted the challenges posed by social media commentary on the court's judgment. He expressed concerns about the misuse of statistics and the potential for...

Supreme Court Directs SBI To Disclose All Electoral Bond Data Available With It Including Unique Alphanumeric Numbers

Awstika Das

This is a premium content
Available exclusively to
Our subscribers

INR 1099+GST

Tags

Awstika Das

Supreme Court Directs SBI To Disclose All Electoral Bond Data Available With It Including Unique Alphanumeric Numbers

Awstika Das

This is a premium content Available exclusively to Our subscribers

INR 1099+GST

Tags

Awstika Das

This is a premium content
Available exclusively to
Our subscribers