A petition has been filed in the Supreme Court on Wednesday regarding the issue of Electoral Bonds, seeking an investigation by the Special Investigation Team (SIT) into the alleged quid pro quo arrangements between political parties, corporates, and other entities.
The plea also demands authorities to direct officials to investigate the sources of funding for shell and loss-making companies. Additionally, it calls for scrutiny into the financial support provided to various political parties by shell and loss-making companies. The plea revealed through Electoral Bond data.
The Supreme Court had declared the Electoral Bond scheme unconstitutional on March 15, ahead of the Lok Sabha elections in 2024. The court had cancelled the Electoral Bond scheme, brought for political funding, as ‘unconstitutional’. Along with this decision, the court had ordered the CBI to investigate, and make available the details of the contributors, bond values, and their recipients. The five-member Constitution Bench chaired by Chief Justice D.Y. Chandrachud termed the 2018 scheme as a violation of the freedom of speech and expression and constitutional rights to information. The apex court did not agree with the argument of the central government that the aim of this scheme was to bring transparency in political donations and to curb black money.
The Modi government launched the Electoral Bond scheme on January 2, 2018. The scheme was introduced to provide political parties with the option of donations. According to the provisions of the scheme, Electoral Bonds could be purchased by any citizen of India or any entity established or incorporated in India. Any individual could buy Electoral Bonds alone or jointly with other individuals.
Former Congress President Rahul Gandhi, referring to the issues related to Electoral Bonds, alleged that Prime Minister Narendra Modi is running the “school of corruption” and himself studying each chapter, including how to collect donations, how contracts are distributed after receiving donations, how the washing machine that purifies corrupt people works, and how agencies become recovery agents, playing the game of ‘bail and jail’.
