All posts tagged: electoral bonds verdict

BJP Defends Electoral Bonds, Says Respects Supreme Court Verdict

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The party also accused the opposition of politicising the issue. New Delhi: The BJP on Thursday defended the electoral bonds scheme, struck down as unconstitutional by the Supreme Court, saying it had a laudable objective of bringing transparency in poll funding. BJP leader and former law minister Ravi Shankar Prasad, however, added that his party respects the Supreme Court verdict. Noting that the verdict has been delivered by a Constitution bench of the top court, he said the judgment runs into hundreds of pages and requires a comprehensive study before a structured reply is given by the party. He told reporters that the government headed by Prime Minister Narendra Modi has made efforts to reform election funding and the introduction of electoral bonds was a part of such measures. Mr Prasad said the voters’ list now carries photographs of electorates while electronic voting machines are being used in large numbers, curbing the menace of booth-capturing. “This (bonds) was also a part of similar sincere efforts to make elections transparent. The honourable Supreme Court has given …

Electoral Bonds “Not The Only Way” To Curb Black Money: Supreme Court

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The Supreme Court said that the scheme is “not the only way” to curb black money. New Delhi: The Supreme Court, in a historic judgment today, declared the electoral bonds scheme for political funding as unconstitutional. Chief Justice of India DY Chandrachud, while announcing the verdict, said that the scheme was arbitrary and violated the citizens’ right to information.  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. Here are the Supreme Court’s key conclusions: 1. Violation Of Article 19(1)(a) The Supreme Court arrived at a unanimous decision, with both Chief Justice Chandrachud and Justice Sanjiv Khanna agreeing on the “unconstitutional” nature of the electoral bonds scheme.  The key issues raised in the petitions focused around the potential violation of the right to information under Article 19(1)(a) of the Constitution and the concern over unlimited corporate funding compromising the principles of free and fair elections.  2. Quid Pro Quo Scenarios The Supreme Court held that the electoral …

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. …