Supreme Court Agrees To Hear Plea To Stay Electoral Bonds On March 24
Live LawThe Supreme Court on Thursday agreed to hear on March 24 an application seeking stay of the release of new set of electoral bonds, ahead of assembly polls in Kerala, West Bengal, Pudhucherry and Assam.Advocate Prashant Bhushan, appearing for Association for Democratic Reforms, mentioned the application before the Chief Justice of India today for urgent listing. Bhushan informed that in April 2019, the Supreme Court had sought for information from political parties regarding the donations received through electoral bonds in a sealed cover. The Finance Act 2017 introduced amendments in Reserve Bank of India Act, Companies Act, Income Tax Act, Representation of Peoples Act and Foreign Contributions Regulations Act to make way for electoral bonds. By virtue of the 2017 amendment made to Section 29C of the Representation of Peoples Act 1951, political parties need not report to ECI the donations received through electoral bonds.