Supreme Court of India delivers landmark electoral bonds verdict
The Supreme Court of India on Wednesday delivered a landmark 5-0 unanimous verdict declaring the Electoral Bonds Scheme unconstitutional, directing full disclosure of donor information within 30 days.
A constitution bench headed by Chief Justice DY Chandrachud held that the scheme violated voters' right to information under Article 19(1)(a) of the Constitution and could not be justified on grounds of donor anonymity.
"Democracy requires informed citizens. The right to know who funds political parties is fundamental to exercising the franchise meaningfully," the Chief Justice stated in the operative part of the judgment.
The court directed the State Bank of India to immediately stop issuing electoral bonds and to submit to the Election Commission of India details of all bonds purchased and redeemed since the scheme's inception in 2018.
The ruling is seen as a massive blow to the ruling BJP, which had received the largest share of electoral bonds according to partial disclosures made earlier. The party maintained that the scheme ensured clean money in politics.
Legal experts called the judgment historic. Senior advocate Kapil Sibal, who had argued against the scheme, termed it "a victory for democracy and transparency."
