Contempt plea moved against SBI for defying SC order on electoral bonds’ disclosure
1 year ago

Contempt plea moved against SBI for defying SC order on electoral bonds’ disclosure

Hindustan Times  

A day after the deadline for the State Bank of India to submit details of electoral bonds purchased since April 12, 2019, to the Election Commission of India ended, the Association for Democratic Reforms approached the Supreme Court on Thursday demanding contempt action against the public sector bank for defying the court’s directive. On March 4, the SBI had moved its plea for extension of time till June 30 arguing that “decoding” the data and matching donors to the donations would be a “complex process”. With the SBI asking for extension, the ADR moved a contempt plea on Thursday labelling the SBI’s extension request as “malafide” and an attempt to thwart transparency efforts before the upcoming Lok Sabha elections. In its extension plea moved on March 4, the SBI sought to bring to the court’s notice “certain practical difficulties with the decoding exercise and the timeline fixed for it.” “It is submitted that due to the stringent measures undertaken to ensure that the identity of the donors was kept anonymous, ‘decoding’ of the EBs and the matching of the donor to the donations made would be a complex process,” stated the plea, referring to the 2018 EB scheme and the standard operating procedure that SBI formulated for 29 authorised branches, spread all over India, with regard to sale and redemption of bonds.

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