All posts tagged: electoral bonds scheme

Karnataka HC stays Bengaluru police probe against Nirmala Sitharaman, others in electoral bonds extortion FIR | Bangalore News

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A single-judge bench of the Karnataka High Court Monday stayed proceedings against Union Finance Minister Nirmala Sitharaman, former Karnataka BJP chief Nalin Kumar Kateel, and unnamed ED officials in the ‘electoral bonds extortion case’ registered by the Bengaluru police. Kateel had approached the Karnataka High Court for a stay on the investigation and further proceedings in the case. In the petition moved by Kateel, senior advocate K G Raghavan argued that no case of extortion was made out in the complaint. Prashant Bhushan, the senior counsel for the private complainant, argued that the electoral bonds scheme involved a classic case of extortion, where the ED had generated fear among some companies to buy electoral bonds. “Section 383 mandates that any informant who approaches the concerned Court or the jurisdictional police should have been put into fear and due to such fear, he should have delivered some property to the accused,” the HC observed. “It is only then that extortion may be established prima facie, against that accused qua the victim. It is settled principle of …

Karnataka HC stays FIR against her in electoral bonds scheme till Oct 22 – India TV

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Image Source : PTI A case was registered on Saturday against Union Finance Minister Nirmala Sitharaman and others on the directions of a court, following a complaint relating to the now-scrapped electoral bonds scheme. The Karnataka HC has granted big relief to Union Finance Minister Nirmala Sitharaman in electoral bonds scheme case. Earlier, one FIR filed against her in electoral bond recovery case, now the HC has stayed the case till October 22.  Former BJP Karnataka President Nalin Kumar Kateel had challenged the lower court’s decision in the High Court. No action against Sitharaman till Oct 22  Accepting the petition for hearing, the Karnataka High Court stayed further investigation till October 22 in the FIR filed against former Karnataka state BJP President Nalin Kumar Kateel, who is a co-accused in the case, in which Union Minister Nirmala Sitharaman has been made the main accused. He is accused of extorting money from some companies under the guise of electoral bonds A case was registered on Saturday against Union Finance Minister Nirmala Sitharaman and others on the …

Congress demands Nirmala Sitharaman’s resignation over FIR in electoral bond case | Latest News India

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The Congress launched a sharp attack on the Bharatiya Janata Party (BJP) on Sunday, demanding the resignation of Union finance minister Nirmala Sitharaman after a case was registered against her in connection with the now-scrapped electoral bonds scheme. The opposition party accused Sitharaman of “undermining democracy” and called for a Supreme Court-monitored inquiry into the controversial scheme through a Special Investigation Team (SIT). A case was registered on Saturday against Sitharaman and others on the directions of a court in Bengaluru, following a complaint relating to the now-scrapped electoral bonds scheme.(PTI) What are the allegations? The case was filed following a court directive in Bengaluru, based on a complaint lodged by Adarsh R Iyer, co-president of the ‘Janaadhikaara Sangharsha Parishath’ (JSP). The complaint alleges that Sitharaman, along with Enforcement Directorate (ED) officials and BJP leaders, orchestrated an extortion racket under the guise of electoral bonds, benefiting to the tune of over ₹8,000 crore. Also Read | ‘Case of extortion’: Complainant attacks Nirmala Sitharaman over electoral bonds FIR has been lodged against Sitharaman, BJP Karnataka chief …

FIR against Nirmala Sitharaman, others over ‘extortion’ linked to electoral bonds scheme | Bangalore News

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The Bengaluru police on Saturday registered a case against Union Finance Minister Nirmala Sitharaman, Enforcement Directorate (ED) officials, and a few BJP leaders in connection with a complaint relating to the now-scrapped electoral bonds scheme. The FIR was registered under sections 384 (punishment for extortion) and 120B (criminal conspiracy) on the directions of a special court in the city. The complaint, lodged by Adarsh R Iyer, Co-President of ‘Janaadhikaara Sangharsha Parishath’ (JSP), also names Karnataka BJP chief and B S Yediyurappa’s son B Y Vijayendra and party leader Nalinkumar Kateel among others. The complainant has alleged that the accused “committed extortion under the guise and garb of electoral bonds and benefitted to the tune of 8,000 and more crore of rupees,” news agency PTI reported. He further alleged that Sitharaman, through the clandestine aid and support of ED officials, facilitated extortion of thousands of crores of rupees for the benefit of others both at the state and national levels. “The entire extortion racket under the garb of electoral bonds has been orchestrated hand in glove …

Piyush Goyal On Electoral Bonds

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“Bonds were brought in to ensure greater transparency in electoral funding,” Piyush Goyal said. New Delhi: Union minister Piyush Goyal told NDTV today that the electoral bonds issue does not figure among the key issues in the general election at all. “Nobody is asking,” he told NDTV when asked about the massive Supreme Court verdict banning them ahead of the general election in which the BJP is hoping for a third straight term in power. The Opposition, he added, were upset about the bonds because it interfered with their personal gains that came from skimming off party funds. The Supreme Court, which scrapped the Electoral Bond Scheme on February 16, had objected to undisclosed funding through corporate donations, saying the voters had a right to know who were funding the political parties. This, Chief Justice of India DY Chandrachud said, was because political contributors “get access”, which leads to policy making. “Financial supports to political parties can lead to quid pro quo arrangement,” said the bench led by Chief Justice Chandrachud. “Bonds were brought in …

Nitin Gadkari Reveals ‘Main Intention’ Behind Electoral Bonds, Recalls Meeting Arun Jaitley

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Nitin Gadkari spoke about the main intention behind electoral bonds scheme. Ahmedabad: Union minister Nitin Gadkari has said it was not possible to run a political party without funds, and added that the Centre had introduced the electoral bonds scheme, now struck down as unconstitutional by the Supreme Court, in 2017 with a “good intention”. The senior Bharatiya Janata Party (BJP) leader said all political parties need to sit together and deliberate if the Supreme Court gives any further direction on the matter. He made the comments at an event organised by a media house in GIFT City near Gandhinagar on Friday. “When Arun Jaitely was (Union finance) minister, I was part of that discussion (regarding electoral bonds). No party can survive without resources. In some countries, governments fund political parties. There is no such system in India. Thus, we chose this system of financing political parties,” said Mr Gadkari on a question about electoral bonds. He noted the “main intention behind introducing electoral bonds was that political parties get funds directly”, but the names …

Supreme Court Raps SBI For Not Sharing “Complete Data” On Electoral Bonds

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Electoral bonds data will be made public by the poll panel once SBI shares it. New Delhi: The Supreme Court today came down hard on the State Bank of India for not sharing the complete data on electoral bonds, a scheme that allowed individuals and businesses to donate anonymously to political parties. The court had struck down the scheme and directed the bank to share all details on the donations made in the last 5 years. Hearing a petition by the Election Commission, the Supreme Court said that the data provided by the Supreme Court was incomplete. The five-judge bench, headed by Chief Justice DY Chandrachud, directed SBI to disclose electoral bond numbers as well, in addition to the details it has already shared. “Who is appearing for the State Bank of India? They have not disclosed the bond numbers. It has to be disclosed by the State Bank of India,” Chief Justice Chandrachud said right at the outset of the hearing. In its notice to SBI, the Supreme Court bench has asked the bank …

Electoral bonds: Key Supreme Court hearing today as SBI, NGO file petitions | Latest News India

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All eyes will be on the Supreme Court on Monday, March 11, as it will hear the application filed by the State Bank of India (SBI) seeking an extension till June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month. A view of the Supreme Court of India (AFP) A five-judge Constitution bench headed by Chief Justice of India DY Chandrachud will also hear a separate petition seeking initiation of contempt action against the SBI alleging that it “wilfully and deliberately” disobeyed the top court’s direction to submit details of the contributions made to political parties through electoral bonds to the Election Commission of India by March 6. Source link

Electoral bonds scheme | Modi government trying to use SBI to bulldoze Supreme Court judgment, says Mallikarjun Kharge

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“Modi government is using the largest bank of our country as a shield to hide its dubious dealings through Electoral Bonds,” Congress president Mallikarjun Kharge said. | Photo Credit: The Hindu The Congress on March 5 attacked the Centre over the State Bank of India (SBI) moving the Supreme Court to seek more time to disclose electoral bond details, alleging that the Modi government is using the largest bank of the country as a shield to hide its “dubious dealings”. The SBI on March 4 moved the Supreme Court seeking an extension till June 30 to disclose details of each electoral bond encashed by political parties. In its verdict last month, the top court directed the SBI to furnish the details to the poll panel by March 6. Congress president Mallikarjun Kharge said the Congress’ position on the electoral bonds scheme is that it is “opaque, undemocratic and destroyed the level playing field”. “Modi government is using the largest bank of our country as a shield to hide its dubious dealings through Electoral Bonds,” he …

Supreme Court’s Big Verdict On Electoral Bonds Scheme Today

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In April 2019, the Supreme Court had declined to stay the electoral bonds scheme. New Delhi: The Supreme Court will today pronounce its verdict on a set of petitions challenging the validity of the electoral bonds scheme. A five-judge Constitution bench, led by Chief Justice DY Chandrachud, reserved its verdict on November 2 last year. The electoral bonds scheme, introduced by the government on January 2, 2018, was seen as a solution to replace cash donations and enhance transparency in political funding. Electoral bonds serve as a financial instrument allowing individuals and businesses to contribute funds to political parties discreetly, without revealing their identities. Under the provisions of the scheme, any citizen of India or entity incorporated or established in the country can purchase electoral bonds. These bonds are available in various denominations, ranging from Rs 1,000 to Rs 1 crore, and can be obtained at all branches of the State Bank of India (SBI). These donations are also interest-free. One of the key features of electoral bonds is the anonymity they provide to donors. …