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SC agrees to examine CPM's plea challenging introduction of electoral bonds

Team SoOLEGAL 2 Feb 2018 4:00pm

SC agrees to examine CPM's plea challenging introduction of electoral bonds

The Supreme Court, on Friday, issued notice to the Centre regarding its decision to bring up electoral bond scheme in elections.

The court’s order came on the plea of the Communist Party of India (Marxist) seeking to quash the government decision.

The three-judge bench consisting of Chief Justice Dipak Misra, Justice A M Khanvilkar and Justice DY Chandrachud gave the nod to examine the CPM’s plea challenging the Centre decision.

Despite strong opposition from the communist party and reservation on the move from the Election Commission (EC) of India, the NDA government decided to introduce electoral bonds. Justifying its decision, the Centre, has said that the scheme will clean up political funding in India.

CPM then filed a petition in the Supreme Court, demanding that the move to introduce electoral bonds be scrapped.

The petition stated, "If the bond route is followed, it will mean the end of transparency. Only the Corporate and the government will know about the funds transferred”.

The political party also suggested that the Centre must rather designate an institution like the Election Commission of India, to which corporate firms can donate funds.

And the funds can later be monitored by the EC, the party added.

CPM general secretary Sitaram Yechury, one of the petitioners of the CPM along with his party, has said, "We took up the matter in Parliament and sought amendments to the Bill when the government moved the proposal to introduce electoral bonds. Using their brute majority in the lower house, however, the government overturned the recommendations by Rajya Sabha. The no disclosure clause in electoral bonds will create opacity in funding and is bad for the democracy."

According to the provisions of scheme, the bonds will be issued in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore and will be available at specified branches of State Bank of India. Donors can donate the bonds to their party of choice, which can then be cashed in via the party's verified account within 15 days.

Every party that is registered under Section 29A in The Representation of the People Act, 1951 and has secured at least 1 per cent of the votes polled in the most recent Lok Sabha or assembly election will be allotted a verified account by the Election Commission. Electoral bond transactions can be made only via that account.

 



Tagged: Supreme Court   Communist Party of India (Marxist)   Chief Justice Of India Dipak Misra   Election Commission of India   Section 29A in The Representation of the People Act   1951  
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