Supreme Court Pressures SBI on Electoral Bonds Disclosure

The Supreme Court Chief Justice D.Y. Chandrachud, emphasized the urgency of compliance with its judgment on electoral bonds, as the State Bank of India (SBI) sought an extension till June 30 to disclose bond details. The bench criticized SBI for its handling of the matter, questioning its transparency and candor. While SBI acknowledged possessing the details, it cited difficulties in matching donors to purchases. A separate plea, alleging contempt against SBI for non-compliance, further intensified the scrutiny.

The court directed SBI to reveal the information contained in sealed covers and urged adherence to its directives. The complexity of decoding electoral bonds and matching donors necessitated the extension, SBI argued. However, petitioners accused SBI of intentional delay to withhold crucial information ahead of the Lok Sabha elections. The apex court’s insistence on transparency underscores its commitment to uphold democratic principles and ensure accountability in political funding.