SC directs political parties to furnish receipts of electoral bonds in to EC

The Supreme Court has directed all political parties to furnish details about the receipts of electoral bonds in a sealed cover to the Election Commission.

Electoral Bond Scheme

• The government had notified the Electoral Bond Scheme 2018 on January 2, 2018.
• As per provisions of the Electoral Bond scheme, electoral bonds may be purchased by a person, who is a citizen of India or incorporated or established in India.
• A person being an individual can buy electoral bonds, either singly or jointly with other individuals.
• Political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than one per cent of 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 electoral bonds.
• Electoral bonds shall be encashed by an eligible political party only through a bank account with an authorized bank.

Interim Order of the Supreme Court

The Supreme Court was hearing a petition filed by an NGO which challenged the validity of the scheme and sought that either the issuance of electoral bonds be stayed or names of donors be made public to ensure transparency in the poll process.
In an interim order passed by the Supreme Court, the apex court has directed all political parties to provide details of the amount and bank account of donors by May 30 to the Election Commission.

Month: Current Affairs - April, 2019