Election

Supreme Court directs political parties to furnish donations details received through electoral bonds

12.04.2019

In a verdict on the legality of the electoral bonds scheme, Supreme Court has declined to stay Electoral Bond Scheme ahead of 2019 general elections. Supreme Court observed that, issue of Electoral Bonds (EB) is a weighty one which is significantly apposite to sanctity of election process. Interim direction are issued to political parties to submit details of donations received through electoral bonds in sealed cover to Election Commission of India.

Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 02nd January 2018. A person being an individual can buy Electoral Bonds, either singly or jointly with other individuals. As per the Notification, only the Political Parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than one per cent of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive the Electoral Bonds. The Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorized Bank. The Electoral Bond deposited by an eligible Political Party in its account shall be credited on the same day.

Detailed particulars of the donors as against the each Bond; the amount of each such bond and the full particulars of the credit received against each bond are required to be furnished. The details of such other bonds that may be received by such a political party upto the date fixed for issuing such bonds will be submitted on or before 30th May, 2019.

Tags : Electoral bonds Details Submission

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