The Supreme Court on Wednesday reserved its order on the plea of an NGO seeking a moratorium on the sale of new electoral bonds ahead of the assembly elections in West Bengal, Tamil Nadu, Kerala, Assam and Puducherry. However, during the hearing, a three-judge bench headed by Chief Justice of India (CJI) SA Bobde expressed concern over the possible misuse of these bonds and has asked the central government to investigate it. The court has asked what is its monitoring system.
The bench asked a question that if a political party gets 100 crore worth of bonds, then what is the control regarding the use of these bonds outside of illegal activities or political agenda? Representative of the center is Attorney General K.K. Venugopal said that after the Electoral Bond Scheme was introduced in 2018, there was a ban on black money in electoral funding as no cash was taken. Bonds can be purchased only through check or DD.
At the same time, Senior Advocate Rakesh Dwivedi, appearing for the Election Commission, said that the Election Commission is not opposing these bonds, but has expressed concern over its anonymity. A writ petition by the Association for Democratic Reforms (ADR) has been filed by the Supreme Court to stop the new sale of electoral bonds from April 1 to decide on their validity. The NGO demanded an immediate hearing, stating that the sale of the new electoral bonds should be stopped until the apex court decides on three pending petitions challenging the Electoral Bond Scheme 2018.
Explain that an electoral bond is a promissory note that can be purchased by any person, company, firm, etc., provided the person or entity is a citizen of India. Bonds are specifically issued to political parties for the purpose of contributing money.