Electoral bonds case: Do not nullify past transactions
7 months ago

Electoral bonds case: Do not nullify past transactions

Live Mint  

One of the compelling stories during India’s ongoing general elections has concerned electoral bonds. These amendments pertained to exemptions given to political parties from publishing details of electoral bond contributions, maintaining records of the same and from disclosing the names and addresses of donors. Another amendment had removed the upper limit for corporate donations to political parties, earlier fixed at 7.5% of the company’s average net profits of the past three years. Let’s look at the impact that the SC’s ruling could have on the past actions of companies and political parties if it has retrospective effect. The available data shows that companies have already made donations exceeding the earlier cap of 7.5%; companies with zero profits and even losses have made contributions and the names of favoured political parties were not disclosed in the profit-and-loss statements filed by most of these companies.

Law India Political Political Parties Parties Companies Electoral Scheme Past Electoral Bonds Doctrine This Doctrine Unconstitutional Past Actions Past Transactions  parties  past  electoral  law  case  bonds  scheme  unconstitutional  political  doctrine  companies  nullify  sc  transactions

History of this topic

Electoral Bonds: SC Judgment Landed Like a Clap of Thunder From a Clear Blue Sky
9 months ago

Electoral Bonds: SC Judgment Landed Like a Clap of Thunder From a Clear Blue Sky

The Quint  

Just as remarkable as the court’s reasoning and its judgment in the case, is what the court did in not just the judgment itself but also the actions it took to enforce its judgment. This becomes all the more important in the context of the ADR case as I will discuss, and one which does not get enough credit I …

SC order on electoral bonds disclosure does not cover full details from March 2018
9 months ago

SC order on electoral bonds disclosure does not cover full details from March 2018

The Hindu  

The Supreme Court on March 18 directed full disclosure of electoral bonds purchased after April 2019, but information about a chunk of poll bonds bought and encashed during the first year of the anonymous political funding scheme will continue to remain hidden from the public eye. This would mean that full information on who bought how many electoral bonds to …

As some parties do not disclose donors, SC had sought their ‘detailed particulars’ in April 2019 order
9 months, 1 week ago

As some parties do not disclose donors, SC had sought their ‘detailed particulars’ in April 2019 order

The Hindu  

A second set of data published on Sunday by the Election Commission on electoral bonds purchased and redeemed by political parties prior to April 12, 2019 show that many of them did not disclose the identities of their donors. This is despite a specific order of the Supreme Court on April 12, 2019 that political parties that benefited from the …

Follow SC for reforms in electoral funding
9 months, 1 week ago

Follow SC for reforms in electoral funding

Hindustan Times  

The Supreme Court did well to reject the plea of the State Bank of India for an extension on the disclosure of details about electoral bonds and direct the State-owned bank to furnish these before the Election Commission of India by the end of business hours on Tuesday, March 12. On February 15, the SC scrapped the electoral bonds scheme …

Making sense of electoral bond judgment through data
10 months ago

Making sense of electoral bond judgment through data

The Hindu  

Last week, the Supreme Court ruled the electoral bonds Scheme unconstitutional, saying that the anonymous influx of funding to political parties, especially from corporations, hinders democratic legitimacy. In Justice Sanjiv Khanna’s opinion, “access to information which can materially shape the citizens’ choice is necessary for them to have a say in how their lives are affected.” This meant Solicitor General …

Electoral Bonds Junked: Will Taxpayers Be Able to Claim Tax Deductions for Political Donations This Fiscal?
10 months ago

Electoral Bonds Junked: Will Taxpayers Be Able to Claim Tax Deductions for Political Donations This Fiscal?

News 18  

Even as the Supreme Court has termed electoral bonds “unconstitutional”, hundreds of taxpayers are concerned about whether they will now be able to claim tax deductions for the bonds they have used this year for political party donations or not. However, a Moneycontrol report quoted Vaibhav Sankla, founder of global tax advisory Billion BaseCamp, as saying, “We will have to …

The Hindu Morning Digest, February 16, 2024
10 months, 1 week ago

The Hindu Morning Digest, February 16, 2024

The Hindu  

Supreme Court declares electoral bonds scheme unconstitutional In a landmark unanimous judgment, the Supreme Court on Thursday struck down as “unconstitutional and manifestly arbitrary” the electoral bonds scheme, which provides blanket anonymity to political donors, as well as critical legal amendments allowing rich corporations to make unlimited political donations. Matching buyers of electoral bonds with recipients could be tricky, say …

Ban on India’s electoral bonds: How will it affect 2024 election?
10 months, 1 week ago

Ban on India’s electoral bonds: How will it affect 2024 election?

Al Jazeera  

While transparency advocates and opposition leaders say ban is a big win for democracy, Modi’s BJP dominates other political funding and remains confident ahead of national elections. Opposition leaders say the judgement represents a setback for Prime Minister Narendra Modi’s ruling Bharatiya Janata Party, whose government introduced the electoral bonds scheme seven years ago and which battled long and hard …

‘Quid pro quo...’: What SC said while declaring electoral bonds ‘unconstitutional’
10 months, 1 week ago

‘Quid pro quo...’: What SC said while declaring electoral bonds ‘unconstitutional’

Firstpost  

In what is being termed as perhaps the most significant verdict of the year, the Supreme Court today struck down the electoral bond scheme, terming it to be violative and unconstitutional. File image/PTI ‘Unlimited contribution by companies is unconstitutional’ The SC bench also stated that through electoral bonds companies could exert undue influence on political parties. Amendment to Section 182 …

Electoral bonds verdict Highlight: Supreme Court deems scheme ‘violative of RTI’
10 months, 1 week ago

Electoral bonds verdict Highlight: Supreme Court deems scheme ‘violative of RTI’

Hindustan Times  

Electoral bonds case Highlights: The Supreme Court on Thursday delivered its verdict on the electoral bonds case, striking down the scheme after deeming it unconstitutional. Key highlights from Supreme Court verdict - A five-judge bench of Chief Justice of Inda DY Chandrachud, Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra delivered a unanimous verdict on Thursday, striking down …

Validity of electoral bonds scheme | Supreme Court to examine on January 31 whether petitions need to be referred to Constitution Bench
1 year, 10 months ago

Validity of electoral bonds scheme | Supreme Court to examine on January 31 whether petitions need to be referred to Constitution Bench

The Hindu  

The Supreme Court is on January 31 scheduled to examine whether petitions challenging the validity of electoral bonds scheme need to be referred to a Constitution Bench. Advocate Prashant Bhushan, appearing for petitioner NGO Association for Democratic Reforms, has argued that amendments made via Finance Acts of 2016 and 2017, both passed as Money Bills, have through the electoral bonds …

Explained: What are electoral bonds and the case in the Supreme Court
2 years, 8 months ago

Explained: What are electoral bonds and the case in the Supreme Court

Firstpost  

A Supreme Court bench has agreed to hear a PIL challenging laws permitting funding of political parties through the electoral bond scheme A Supreme Court bench has agreed to hear a PIL challenging laws permitting funding of political parties through the electoral bond scheme. Assuring an early listing, the CJI said, “If it was not for Covid …then I would …

Here is why the electoral bonds scheme must go
3 years, 8 months ago

Here is why the electoral bonds scheme must go

The Hindu  

The Supreme Court, after a brief hearing on March 24, reserved orders on the question of whether or not to stay the electoral bond scheme, ahead of the upcoming State elections. The electoral bonds scheme, however, removes all pre-existing limits on political donations, and effectively allows well-resourced corporations to buy politicians by paying immense sums of money. Gaps in government’s …

Discover Related