Electoral Bonds:

Electoral Bonds: 5 key highlights of SC verdict rejecting SBI's time-extension plea to disclose details

The Supreme Court of India, on Monday, turned down the State Bank of India’s (SBI) request seeking an extension of time to disclose details of the Electoral Bonds Scheme. 

The top court has asked the SBI to share the details with the Election Commission of India (ECI) by tomorrow, Tuesday, March 12. The poll panel has been asked to publish the details on its website by 5 pm on Friday, March 15.

SBI to give details by March 12

After scrapping the Electoral Bonds Scheme, the Supreme Court had on February 15 directed India’s largest public bank, SBI, to submit all details regarding the bonds to the Election Commission of India by March 6. Further, the Election Commission was directed to publish the received data on its website by March 13.

However, on March 4, the SBI approached the top court with a plea seeking an extension until June 30 to disclose the details.

Today, a five-judge Constitution bench of Chief Justice of India (CJI) DY Chandrachud, with Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra, rejected the SBI’s time-extension plea. The top court has ordered that the details be disclosed by SBI to the Election Commission by March 12.