The court in the Indian city of Bengaluru court has instructed the police to file an FIR against Union Finance Minister Nirmala Sitharaman, following claims of extortion linked to the now-defunct electoral bonds scheme.

The court in the Indian city of Bengaluru court has instructed the police to file an FIR against Union Finance Minister Nirmala Sitharaman, following claims of extortion linked to the now-defunct electoral bonds scheme. The complaint was submitted by Adarsh Iyer, representing the Janaadhikara Sangharsha Sanghatane, accusing Sitharaman and others of involvement in extorting funds through the electoral bonds system. Based on this, the Special Court for People's Representatives in Bengaluru directed that the FIR be registered, reported news agency ANI. In addition to Sitharaman, the complaint also mentions Bharatiya Janata Party (BJP) President JP Nadda and Karnataka BJP figures Naleen Kumar Kateel and BY Vijayendra. It accuses them of pressuring businesses to buy electoral bonds worth thousands of crores, reportedly using Enforcement Directorate (ED) raids as a means of coercion. The complaint further alleges that these bonds were cashed by BJP leaders at both national and state levels. Also read: Pakistan PM Shehbaz Sharif’s UNGA Kashmir rant falls flat as India hits back The scheme, according to the complaint, was used to gather illegal funds for political gain, with senior BJP figures, including Sitharaman, allegedly playing a role. Earlier this year, India's Supreme Court declared the electoral bonds scheme unconstitutional, stating it breached the public's right to information. Introduced by the Centre in 2018, the scheme was designed to replace cash donations to political parties, aiming for greater transparency in political funding. Karnataka Chief Minister Siddaramaiah, responding to the case, demanded Sitharaman’s resignation and called for a report on the matter within three months. Also read: Encounter breaks out between terrorists, security forces in J-K's Kulgam "An FIR has been registered against Nirmala Sitharaman in the Special Court for People's Representatives. Who is she? She is a Union Minister, and there is an FIR against her too. They were involved in extortion through electoral bonds and the FIR has been registered on that. She should tender her resignation after the FIR has been registered. Will they (BJP) ask her to resign?" he said. The BJP has stood by Sitharaman, dismissing the accusations as politically motivated. The party insisted that the electoral bonds issue concerns policy, not criminal activity, and countered by pointing to Karnataka CM Siddaramaiah’s own involvement in legal cases, including the ongoing MUDA case. "Siddaramaiah is a habitual offender when it comes to cooperating with the investigation agencies. There were 106 cases against Congress leaders, and among those, 64 were absolutely on Mr Siddaramaiah when he was the Chief Minister of Karnataka the last time," said BJP spokesperson Dr Sudha Halkai. (With inputs from agencies)

Indian FM Sitharaman hit with FIR in electoral bonds extortion case; BJP calls charges ‘politically motivated’

Lok Sabha Elections 2024: The Supreme Court of India on Monday (March 18) said the State Bank of India (SBI) cannot be selective and has to disclose all "conceivable" electoral bond details in its possession, including unique bond numbers that would disclose the link between the buyer and the recipient political party.

Supreme Court directed the SBI to make complete disclosure of electoral bond details by March 21.

The already released electoral bond details&nbsp;pertain to the period before April 12, 2019.

Earlier, the Election Commission of India on Sunday (March 17) released data it received from political parties on electoral bonds that were earlier provided to the Supreme Court in sealed covers after the top court directed to make it publicly available.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/sbi-submits-electoral-bonds-data-to-election-commission-following-supreme-court-criticism-699400">SBI submits electoral bonds data to Election Commission following Indian SC's censure</a>

The disclosure reveals details about a total of 523 recognised and non-recognised political parties made public by the Election Commission after the Supreme Court's directives.&nbsp;

<h2>Electoral Bonds data dump so far: Key points</h2>

1. The ruling Bharatiya Janata Party leads in the total amount of funds received through electoral bonds in 2018. The party's cumulative electoral bond amount sums up to ₹6986.5 crore or about $842mn.

2. West Bengal Chief Minister Mamata Banerjee's Trinamool Congress received ₹1,397 crore ($168.5 mn) in electoral bonds followed by the Congress with ₹1,334 crore (or $160.9mn), and the Bharat Rashtra Samithi with ₹1,322 crore ($159 mn).

3. Odisha Chief Minister Naveen Patnaik's Biju Janata Dal (BJD) received ₹944.5 crore ($113.8mn), followed by Dravida Munnetra Kazhagam at ₹656.5 crore ($79.1 mn), and YSR Congress of Andhra Pradesh at nearly ₹442.8 crore ($53.4 mn).

Also watch |&nbsp;Electoral Bonds Data Unveiled: Top 10 donors to political parties

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/electoral-bonds-data-unveiled-top-10-donors-to-political-parties-700477/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

4. The beneficiaries of about ₹859 crore ($103.6mn) worth of bonds purchased by Future Gaming remain undisclosed. This is reportedly due to incomplete donor information from most political parties.

5. Delhi Chief Minister Arvind Kejriwal's Aam Aadmi Party did not provide a consolidated donation figure. However, the State Bank of India's records indicate it received ₹65.45 crore ($7.8 mn). The total sum received by the AAP stands at ₹69 crore ($8.32mn) after accounting for another ₹3.55 crore ($428,228) post-filing with the Election Commission.&nbsp;

6. The Telugu Desam Party (TDP) redeemed bonds totalling ₹181.35 crore&nbsp;($21.83mn), Shiv Sena (Uddhav Balasaheb Thackeray) ₹130.38 crore&nbsp;($15.68mn), Rashtriya Janata Dal (RJD) ₹56 crore ($6.75 mn), Nationalist Congress Party (NCP) ₹50.51 crore ($6.09mn), Sikkim Krantikari Morcha ₹15.5 crore ($1.86mn), Samajwadi Party (SP) ₹14.05 crore ($1.69 mn), Akali Dal ₹7.26 crore ($875,759), AIADMK ₹6.05 crore ($729,798), National Conference (NC) ₹50 lakh ($60,313) from the Bharti Group, and Sikkim Democratic Front (SDF) ₹50 lakh (($60,313).

7. Tamil Nadu's Dravida Munnetra Kazhagam revealed donor identities. However, the donor details of major political parties such as the BJP, Congress, and TMC have not been fully disclosed.

8. Former Uttar Pradesh Chief Minister Akhilesh Yadav's Samajwadi Party disclosed total donations of ₹10.84 crore ($1.30mn). But SP also received 10 bonds worth ₹10 crore ($1.2mn) received anonymously "by post".

Lok Sabha Elections 2024: The Supreme Court of India on Monday (March 18) said the State Bank of India (SBI) cannot be selective and has to disclose all "conceivable" electoral bond details in its possession, including unique bond numbers that would disclose the link between the buyer and the recipient political party.

Lok Sabha Elections 2024: The Supreme Court of India on Monday (March 18) said the State Bank of India (SBI) cannot be selective and has to disclose all "conceivable" electoral bond details in its possession, including unique bond numbers that would disclose the link between the buyer and the recipient political party. Supreme Court directed the SBI to make complete disclosure of electoral bond details by March 21. The already released electoral bond details pertain to the period before April 12, 2019. Earlier, the Election Commission of India on Sunday (March 17) released data it received from political parties on electoral bonds that were earlier provided to the Supreme Court in sealed covers after the top court directed to make it publicly available. Also read | SBI submits electoral bonds data to Election Commission following Indian SC's censure The disclosure reveals details about a total of 523 recognised and non-recognised political parties made public by the Election Commission after the Supreme Court's directives. Electoral Bonds data dump so far: Key points 1. The ruling Bharatiya Janata Party leads in the total amount of funds received through electoral bonds in 2018. The party's cumulative electoral bond amount sums up to ₹6986.5 crore or about $842mn. 2. West Bengal Chief Minister Mamata Banerjee's Trinamool Congress received ₹1,397 crore ($168.5 mn) in electoral bonds followed by the Congress with ₹1,334 crore (or $160.9mn), and the Bharat Rashtra Samithi with ₹1,322 crore ($159 mn). 3. Odisha Chief Minister Naveen Patnaik's Biju Janata Dal (BJD) received ₹944.5 crore ($113.8mn), followed by Dravida Munnetra Kazhagam at ₹656.5 crore ($79.1 mn), and YSR Congress of Andhra Pradesh at nearly ₹442.8 crore ($53.4 mn). Also watch | Electoral Bonds Data Unveiled: Top 10 donors to political parties × 4. The beneficiaries of about ₹859 crore ($103.6mn) worth of bonds purchased by Future Gaming remain undisclosed. This is reportedly due to incomplete donor information from most political parties. 5. Delhi Chief Minister Arvind Kejriwal's Aam Aadmi Party did not provide a consolidated donation figure. However, the State Bank of India's records indicate it received ₹65.45 crore ($7.8 mn). The total sum received by the AAP stands at ₹69 crore ($8.32mn) after accounting for another ₹3.55 crore ($428,228) post-filing with the Election Commission. 6. The Telugu Desam Party (TDP) redeemed bonds totalling ₹181.35 crore ($21.83mn), Shiv Sena (Uddhav Balasaheb Thackeray) ₹130.38 crore ($15.68mn), Rashtriya Janata Dal (RJD) ₹56 crore ($6.75 mn), Nationalist Congress Party (NCP) ₹50.51 crore ($6.09mn), Sikkim Krantikari Morcha ₹15.5 crore ($1.86mn), Samajwadi Party (SP) ₹14.05 crore ($1.69 mn), Akali Dal ₹7.26 crore ($875,759), AIADMK ₹6.05 crore ($729,798), National Conference (NC) ₹50 lakh ($60,313) from the Bharti Group, and Sikkim Democratic Front (SDF) ₹50 lakh (($60,313). 7. Tamil Nadu's Dravida Munnetra Kazhagam revealed donor identities. However, the donor details of major political parties such as the BJP, Congress, and TMC have not been fully disclosed. 8. Former Uttar Pradesh Chief Minister Akhilesh Yadav's Samajwadi Party disclosed total donations of ₹10.84 crore ($1.30mn). But SP also received 10 bonds worth ₹10 crore ($1.2mn) received anonymously "by post".

'Can't be selective': Supreme Court directs SBI to share details of all electoral bonds by March 21

The Election Commission of India has revealed fresh data on the financial transactions of political parties through the now-quashed electoral bonds scheme. Reports suggest that the disclosed data encompassed crucial details such as the issuance dates, number of bonds, denominations, and the respective State Bank of India (SBI) branches involved in the transactions.&nbsp;

Additionally, it also includes the dates of receipt and crediting into the respective parties' bank accounts. However, even the new data does not contain any information on the electoral bond numbers. The election commission had provided this latest disclosed information to the SC in sealed envelopes with the poll body not retaining any.

Also&nbsp;<a href="https://www.wionews.com/india-news/lok-sabha-elections-2024-bjp-under-pm-modi-deploys-artificial-intelligence-to-break-language-barrier-701053">Lok Sabha Elections 2024: BJP under PM Modi deploys Artificial Intelligence to break language barrier</a>

Each electoral bond issued by the State Bank of India reportedly bears a distinctive alphanumeric code, visible only under certain lighting conditions. This code serves as a means to associate each donation with the corresponding political party that receives it, forming a link between the donors and recipients.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/telangana-cm-launches-scathing-attack-against-brs-and-bjp-over-kavithas-arrest-calls-it-serial-drama-700937">Telangana CM launches scathing attack against BRS and BJP over Kavitha's arrest, calls it 'serial drama</a>

Earlier, Chief Justice of India DY Chandrachud, leading a five-judge bench, questioned the SBI's reluctance to disclose the individual bond numbers. The court reiterated its earlier directive for full transparency and urged for disclosing all pertinent details, including bond numbers.

Watch |&nbsp;<a href="https://www.wionews.com/videos/lok-sabha-elections-election-commission-announces-poll-dates-leaders-react-to-date-announcement-701065">Lok Sabha Elections: Election Commission announces poll dates, leaders react to date announcement</a>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/lok-sabha-elections-election-commission-announces-poll-dates-leaders-react-to-date-announcement-701065/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Earlier, the State Bank Of India had requested an extension to submit electoral bond data until June 30, however, the Supreme Court had dismissed it. The unveiling of the electoral bond details coincided with the announcement of the dates for the upcoming Lok Sabha elections, scheduled to take place in seven phases from April 19 to June 1, with results expected on June 4.

According to the State Bank of India, a total of 22,217 electoral bonds were purchased and 22,030 were redeemed by political parties between April 1, 2019, and February 15, 2024.

(With inputs from agencies)

The Election Commission of India has revealed fresh data on the financial transactions of political parties through the now-quashed electoral bonds scheme. Reports suggest that the disclosed data encompassed crucial details such as the issuance dates, number of bonds, denominations, and the respective State Bank of India (SBI) branches involved in the transactions.

The Election Commission of India has revealed fresh data on the financial transactions of political parties through the now-quashed electoral bonds scheme. Reports suggest that the disclosed data encompassed crucial details such as the issuance dates, number of bonds, denominations, and the respective State Bank of India (SBI) branches involved in the transactions. Additionally, it also includes the dates of receipt and crediting into the respective parties' bank accounts. However, even the new data does not contain any information on the electoral bond numbers. The election commission had provided this latest disclosed information to the SC in sealed envelopes with the poll body not retaining any. Also Lok Sabha Elections 2024: BJP under PM Modi deploys Artificial Intelligence to break language barrier Each electoral bond issued by the State Bank of India reportedly bears a distinctive alphanumeric code, visible only under certain lighting conditions. This code serves as a means to associate each donation with the corresponding political party that receives it, forming a link between the donors and recipients. Also Read | Telangana CM launches scathing attack against BRS and BJP over Kavitha's arrest, calls it 'serial drama Earlier, Chief Justice of India DY Chandrachud, leading a five-judge bench, questioned the SBI's reluctance to disclose the individual bond numbers. The court reiterated its earlier directive for full transparency and urged for disclosing all pertinent details, including bond numbers. Watch | Lok Sabha Elections: Election Commission announces poll dates, leaders react to date announcement × Earlier, the State Bank Of India had requested an extension to submit electoral bond data until June 30, however, the Supreme Court had dismissed it. The unveiling of the electoral bond details coincided with the announcement of the dates for the upcoming Lok Sabha elections, scheduled to take place in seven phases from April 19 to June 1, with results expected on June 4. According to the State Bank of India, a total of 22,217 electoral bonds were purchased and 22,030 were redeemed by political parties between April 1, 2019, and February 15, 2024. (With inputs from agencies)

Election Commission of India reveals fresh data on electoral bonds

The Election Commission of India on Thursday (Mar 14) made public the list of entities that had purchased electoral bonds to make political donations.&nbsp;

The details were made public days after the State Bank of India released the details after the Supreme Court's order to this effect.&nbsp;

In the list of donors, it was revealed that a company called Future Gaming and Hotel Services Private Limited made the highest amount of donations.

The company is run by Santiago Martin, who is also known as "Lottery King".

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/electoral-bonds-data-list-of-top-buyers-and-top-beneficiaries-of-now-banned-funding-tool-700280">Electoral bonds data: List of top buyers and top beneficiaries of now-banned funding tool</a>

Future Gaming and Hotel Services was earlier called as Martin Lottery Agencies Limited and was founded in 1991 by the 'Lottery King'.

<h2>Who is "Lottery King" Santiago Martin?</h2>

According to Santiago Martin's charitable trust website, the Lottery King first started working as a labourer in Yangon, Myanmar.

He came back to India from Myanmar in 1988 and set up a lottery business in the south Indian state of Tamil Nadu.

The firm's website says that Martin set up the lottery business at the age of 13, when "he had managed to develop and secure a vast marketing network of the buyers and sellers of lotteries all over India".

Later, his business expanded in neighbouring states of Kerala and Karnataka before he shifted to the northeast.

In northeast India, he set up his business of managing government lottery schemes. Later, he took his business offshore by setting up entities in Bhutan and Nepal.

As per the website, the 'Lottery King' later diversified his business and entered the sectors of real estate, textiles, hospitality and construction.&nbsp;

"He is also the President of All India Federation of Lottery Trade and Allied Industries – an organisation engaged for uplifting and infusing credibility to the lottery trade in India. Under his stewardship, his enterprise, Future Gaming Solutions India Pvt. Ltd. became a member of the prestigious World Lottery Association and is expanding into the field of Online Gaming &amp; Casinos and Sports Betting," read the website.&nbsp;

Watch:&nbsp;Gravitas: India's Election Commission makes electoral bonds data from SBI public

<iframe allowfullscreen="" autoplay="1" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-indias-election-commission-makes-electoral-bonds-data-from-sbi-public-700210/embed" width="560"></iframe>

Martin's company Future Gaming became India's first lottery company which started live telecasts of the draws conducted by different governments for their lotteries on TV.

His company is a member of the Asia Pacific Lottery Association (APLA) and the World Lottery Association (WLA).&nbsp;

Future Gaming was given accreditation by WLA in 2009 after it matched the criteria for Level 1 of the "WLA Responsible Gaming Framework".&nbsp;

As per the website of Future Gaming, Martin was also the Consul General for Liberia where he established a lottery industry.

Martin is also the president of the All India Federation of Lottery Trade and Allied Industries, which is the lobby of stockists, agents and lottery distributors.

Between 2019 and 2024, Future Gaming and Hotel Services Private Limited donated Rs 13680 million (approx $165 million).

<h2>Santiago Martin was under Enforcement Directorate, Income Tax Dept lens&nbsp;</h2>

Martin remained under the lens of central investigative agencies like the Enforcement Directorate and the Income Tax Department for more than a decade and was accused of money laundering and financial fraud in 2011.&nbsp;

In one of the most recent cases, Punjab-based lottery distributor Arunjot Singh Sodhi had filed a case in Punjab and Haryana High Court in August 2023 in which he had alleged that a Rs 9,000 million lottery scam took place in the state.&nbsp;

Sodhi had accused the government of formulating policies and making them in accordance with Martin's preference. The High Court was informed by the state government that they are investigating the allegations made by Sodhi.&nbsp;

In 2021, Martin, his companies and others were accused by the Enforcement Directorate of investing some of the proceeds of crime generated from the Lottery King's business in immovable properties via nearly 40 companies, which have been created using the names of their family members and associates.&nbsp;

IT department officials in 2019 conducted a raid in 70 premises connected to Martin across India.

In 2012, he was arrested and detained in Vellore prison after he faced allegations of carrying out illegal activities.

(With inputs from agencies)

The Election Commission of India on Thursday (Mar 14) made public the list of entities that had purchased electoral bonds to make political donations. The details were made public days after the State Bank of India released the details after the Supreme Court's order to this effect.

The Election Commission of India on Thursday (Mar 14) made public the list of entities that had purchased electoral bonds to make political donations. The details were made public days after the State Bank of India released the details after the Supreme Court's order to this effect. In the list of donors, it was revealed that a company called Future Gaming and Hotel Services Private Limited made the highest amount of donations. The company is run by Santiago Martin, who is also known as "Lottery King". Also Read: Electoral bonds data: List of top buyers and top beneficiaries of now-banned funding tool Future Gaming and Hotel Services was earlier called as Martin Lottery Agencies Limited and was founded in 1991 by the 'Lottery King'. Who is "Lottery King" Santiago Martin? According to Santiago Martin's charitable trust website, the Lottery King first started working as a labourer in Yangon, Myanmar. He came back to India from Myanmar in 1988 and set up a lottery business in the south Indian state of Tamil Nadu. The firm's website says that Martin set up the lottery business at the age of 13, when "he had managed to develop and secure a vast marketing network of the buyers and sellers of lotteries all over India". Later, his business expanded in neighbouring states of Kerala and Karnataka before he shifted to the northeast. In northeast India, he set up his business of managing government lottery schemes. Later, he took his business offshore by setting up entities in Bhutan and Nepal. As per the website, the 'Lottery King' later diversified his business and entered the sectors of real estate, textiles, hospitality and construction. "He is also the President of All India Federation of Lottery Trade and Allied Industries – an organisation engaged for uplifting and infusing credibility to the lottery trade in India. Under his stewardship, his enterprise, Future Gaming Solutions India Pvt. Ltd. became a member of the prestigious World Lottery Association and is expanding into the field of Online Gaming & Casinos and Sports Betting," read the website. Watch: Gravitas: India's Election Commission makes electoral bonds data from SBI public Martin's company Future Gaming became India's first lottery company which started live telecasts of the draws conducted by different governments for their lotteries on TV. His company is a member of the Asia Pacific Lottery Association (APLA) and the World Lottery Association (WLA). Future Gaming was given accreditation by WLA in 2009 after it matched the criteria for Level 1 of the "WLA Responsible Gaming Framework". As per the website of Future Gaming, Martin was also the Consul General for Liberia where he established a lottery industry. Martin is also the president of the All India Federation of Lottery Trade and Allied Industries, which is the lobby of stockists, agents and lottery distributors. Between 2019 and 2024, Future Gaming and Hotel Services Private Limited donated Rs 13680 million (approx $165 million). Santiago Martin was under Enforcement Directorate, Income Tax Dept lens Martin remained under the lens of central investigative agencies like the Enforcement Directorate and the Income Tax Department for more than a decade and was accused of money laundering and financial fraud in 2011. In one of the most recent cases, Punjab-based lottery distributor Arunjot Singh Sodhi had filed a case in Punjab and Haryana High Court in August 2023 in which he had alleged that a Rs 9,000 million lottery scam took place in the state. Sodhi had accused the government of formulating policies and making them in accordance with Martin's preference. The High Court was informed by the state government that they are investigating the allegations made by Sodhi. In 2021, Martin, his companies and others were accused by the Enforcement Directorate of investing some of the proceeds of crime generated from the Lottery King's business in immovable properties via nearly 40 companies, which have been created using the names of their family members and associates. IT department officials in 2019 conducted a raid in 70 premises connected to Martin across India. In 2012, he was arrested and detained in Vellore prison after he faced allegations of carrying out illegal activities. (With inputs from agencies)

With $165 mn, 'Lottery King' Santiago Martin is top electoral bond donor. Who is he?

The Indian Supreme Court, on Monday (Mar 11) will hear an application filed by the State Bank of India (SBI), seeking an extension until June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month.

<h2>Constitutional bench</h2>

A five-judge Constitution Bench led by Chief Justice D.Y. Chandrachud and comprising justices Sanjiv Khanna, B. R. Gavai, J. B. Pardiwala, and Manoj Misra, is set to convene today (Monday, Mar 11) at 10:30 am to deliberate on two petitions.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/india-sc-rejects-sbis-electoral-bond-disclosure-extension-plea-asks-eci-to-publish-details-by-march-15-698888">India: SC rejects SBI's electoral bond disclosure extension plea; asks ECI to publish details by March 15</a>

Along with SBI's plea seeking extension, the bench will also consider a separate plea, requesting the initiation of contempt action against the SBI. This plea alleges that SBI "wilfully and deliberately" disobeyed the apex court's direction to submit details of contributions made to political parties through electoral bonds to the Election Commission by March 6.

<h2>The scrapping of electoral bonds</h2>

In a significant ruling on February 15, a five-judge Constitution Bench invalidated the central government's electoral bonds scheme, which permitted anonymous political funding, deeming it "unconstitutional." The court also mandated disclosure by the Election Commission of the donors, their donation amounts, and the recipients by March 13.

Subsequently, the top court directed the SBI, the designated financial institution under the scheme, to furnish details of electoral bonds purchased from April 12, 2019, to date to the Election Commission by March 6. The Commission was instructed to publish this information on its official website by March 13.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/india-president-accepts-resignation-tendered-by-election-commissioner-arun-goel-ahead-of-lok-sabha-polls-698380">India: Election Commissioner Arun Goel resigns ahead of Lok Sabha polls, president accepts resignation</a>

However, as per news agency PTI, on March 4, the SBI petitioned the apex court for an extension until June 30 to disclose the details of electoral bonds encashed by political parties. The bank argued that retrieving information from "each silo" and "decoding" electoral bonds and matching donors to donations due to stringent anonymity measures would be a time-consuming exercise.

The data pertaining to bond issuance and redemption were maintained separately to safeguard donor anonymity.

<h2>SBI's 'mala fide' application</h2>

A subsequent petition was lodged seeking contempt proceedings against the SBI for allegedly flouting the apex court's directives. The petitioners, NGOs Association for Democratic Reforms and Common Cause, accused the SBI of filing the extension application at the eleventh hour to prevent public disclosure of donor details before the upcoming Lok Sabha elections.

"It is submitted that the said application is mala fide and demonstrates a wilful and deliberate disobedience &amp; defiance of the judgement passed by the constitution bench of this court. It is further a clear attempt to undermine the authority of this court," it alleged.

"The petitioner herein is filing the instant petition seeking initiation of contempt proceedings against State Bank of India for wilfully and deliberately disobeying the order dated February 15 passed by this court … wherein this court directed SBI to submit details of contribution made to the political parties through electoral bonds to the Election Commission of India by March 6," said the contempt plea.

The plea asserted that electoral bonds are "completely traceable", as evidenced by the SBI's maintenance of donor records. It contended that any form of anonymity in political party finances contradicts the principles of participatory democracy and the public's right to information, as enshrined in Article 19(1)(a) of the Constitution.

Access to information about electoral bonds, the petition argued, would empower voters to scrutinise, express, and make informed decisions regarding their choices.

(With inputs from agencies)

The Indian Supreme Court, on Monday (Mar 11) will hear an application filed by the State Bank of India (SBI), seeking an extension until June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month.

The Indian Supreme Court, on Monday (Mar 11) will hear an application filed by the State Bank of India (SBI), seeking an extension until June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month. Constitutional bench A five-judge Constitution Bench led by Chief Justice D.Y. Chandrachud and comprising justices Sanjiv Khanna, B. R. Gavai, J. B. Pardiwala, and Manoj Misra, is set to convene today (Monday, Mar 11) at 10:30 am to deliberate on two petitions. Also read | India: SC rejects SBI's electoral bond disclosure extension plea; asks ECI to publish details by March 15 Along with SBI's plea seeking extension, the bench will also consider a separate plea, requesting the initiation of contempt action against the SBI. This plea alleges that SBI "wilfully and deliberately" disobeyed the apex court's direction to submit details of contributions made to political parties through electoral bonds to the Election Commission by March 6. The scrapping of electoral bonds In a significant ruling on February 15, a five-judge Constitution Bench invalidated the central government's electoral bonds scheme, which permitted anonymous political funding, deeming it "unconstitutional." The court also mandated disclosure by the Election Commission of the donors, their donation amounts, and the recipients by March 13. Subsequently, the top court directed the SBI, the designated financial institution under the scheme, to furnish details of electoral bonds purchased from April 12, 2019, to date to the Election Commission by March 6. The Commission was instructed to publish this information on its official website by March 13. Also read | India: Election Commissioner Arun Goel resigns ahead of Lok Sabha polls, president accepts resignation However, as per news agency PTI, on March 4, the SBI petitioned the apex court for an extension until June 30 to disclose the details of electoral bonds encashed by political parties. The bank argued that retrieving information from "each silo" and "decoding" electoral bonds and matching donors to donations due to stringent anonymity measures would be a time-consuming exercise. The data pertaining to bond issuance and redemption were maintained separately to safeguard donor anonymity. SBI's 'mala fide' application A subsequent petition was lodged seeking contempt proceedings against the SBI for allegedly flouting the apex court's directives. The petitioners, NGOs Association for Democratic Reforms and Common Cause, accused the SBI of filing the extension application at the eleventh hour to prevent public disclosure of donor details before the upcoming Lok Sabha elections. "It is submitted that the said application is mala fide and demonstrates a wilful and deliberate disobedience & defiance of the judgement passed by the constitution bench of this court. It is further a clear attempt to undermine the authority of this court," it alleged. "The petitioner herein is filing the instant petition seeking initiation of contempt proceedings against State Bank of India for wilfully and deliberately disobeying the order dated February 15 passed by this court … wherein this court directed SBI to submit details of contribution made to the political parties through electoral bonds to the Election Commission of India by March 6," said the contempt plea. The plea asserted that electoral bonds are "completely traceable", as evidenced by the SBI's maintenance of donor records. It contended that any form of anonymity in political party finances contradicts the principles of participatory democracy and the public's right to information, as enshrined in Article 19(1)(a) of the Constitution. Access to information about electoral bonds, the petition argued, would empower voters to scrutinise, express, and make informed decisions regarding their choices. (With inputs from agencies)

India: Supreme Court to hear SBI's electoral bond disclosure delay plea, and contempt allegations against bank

The Supreme Court of India on Monday rejected the State Bank of India's (SBI) plea seeking more time to furnish the details of electoral bonds to the Election Commission. Watch in for more election updates!

India Elections 2024: Supreme Court rejects SBI's plea for extension on electoral bonds

The Supreme Court of India on Monday rejected the State Bank of India's (SBI) plea seeking more time to furnish the details of electoral bonds to the Election Commission. Watch in for more details!

India Elections 2024: India's Supreme Court rejects SBI's June 30 electoral bonds data plea

The Supreme Court of India on Monday rejected the State Bank of India's (SBI) plea seeking more time to furnish the details of electoral bonds to the Election Commission.

Electoral Bonds Case: Indian Supreme Court rejects SBI's plea

The Supreme Court of India on Monday (Mar 11) rejected the State Bank of India's (SBI) plea seeking an extension until June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month. Instead, it directed the bank&nbsp;"to disclose the details by the close of business hours of 12 March 2024 (Tuesday)".

Furthermore, the Election Commission of India (ECI) has been directed to "compile the information and publish the details on its official website no later than by 15 March 2024 by 5 PM."

<h2>Contempt charges</h2>

A five-judge Constitution Bench led by Chief Justice D.Y. Chandrachud and comprising justices Sanjiv Khanna, B. R. Gavai, J. B. Pardiwala, and Manoj Misra also heard a plea&nbsp;requesting the initiation of contempt action against the SBI. The plea alleged that SBI "wilfully and deliberately" disobeyed the apex court's direction to submit details of contributions made to political parties through electoral bonds to the Election Commission by March 6.

The court has asked SBI to "file an affidavit of its Chairman and Managing Director on compliance with the directions issued above." It warned the bank that it may move ahead with contempt charges if its instructions are flouted.

"While we are not inclined to exercise the contempt jurisdiction at this time, we place SBI on notice that this Court may be inclined to proceed against it for wilful disobedience if SBI does not comply with the directions by the timelines indicated in this order," the court observed.

<h2>The scrapping of electoral bonds</h2>

In a significant ruling on February 15, a five-judge Constitution Bench invalidated the central government's electoral bonds scheme, which permitted anonymous political funding, deeming it "unconstitutional." The court also mandated disclosure by the Election Commission of the donors, their donation amounts, and the recipients by March 13.

Subsequently, the top court directed the SBI, the designated financial institution under the scheme, to furnish details of electoral bonds purchased from April 12, 2019, to date to the Election Commission by March 6. The Commission was instructed to publish this information on its official website by March 13.

However, as per news agency PTI, on March 4, the SBI petitioned the apex court for an extension until June 30 to disclose the details of electoral bonds encashed by political parties. The bank argued that retrieving information from "each silo" and "decoding" electoral bonds and matching donors to donations due to stringent anonymity measures would be a time-consuming exercise.

The data on bond issuance and redemption were maintained separately to safeguard donor anonymity, it said.

(With inputs from agencies)

The Supreme Court of India on Monday (Mar 11) rejected the State Bank of India's (SBI) plea seeking an extension until June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month.

The Supreme Court of India on Monday (Mar 11) rejected the State Bank of India's (SBI) plea seeking an extension until June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month. Instead, it directed the bank "to disclose the details by the close of business hours of 12 March 2024 (Tuesday)". Furthermore, the Election Commission of India (ECI) has been directed to "compile the information and publish the details on its official website no later than by 15 March 2024 by 5 PM." Contempt charges A five-judge Constitution Bench led by Chief Justice D.Y. Chandrachud and comprising justices Sanjiv Khanna, B. R. Gavai, J. B. Pardiwala, and Manoj Misra also heard a plea requesting the initiation of contempt action against the SBI. The plea alleged that SBI "wilfully and deliberately" disobeyed the apex court's direction to submit details of contributions made to political parties through electoral bonds to the Election Commission by March 6. The court has asked SBI to "file an affidavit of its Chairman and Managing Director on compliance with the directions issued above." It warned the bank that it may move ahead with contempt charges if its instructions are flouted. "While we are not inclined to exercise the contempt jurisdiction at this time, we place SBI on notice that this Court may be inclined to proceed against it for wilful disobedience if SBI does not comply with the directions by the timelines indicated in this order," the court observed. The scrapping of electoral bonds In a significant ruling on February 15, a five-judge Constitution Bench invalidated the central government's electoral bonds scheme, which permitted anonymous political funding, deeming it "unconstitutional." The court also mandated disclosure by the Election Commission of the donors, their donation amounts, and the recipients by March 13. Subsequently, the top court directed the SBI, the designated financial institution under the scheme, to furnish details of electoral bonds purchased from April 12, 2019, to date to the Election Commission by March 6. The Commission was instructed to publish this information on its official website by March 13. However, as per news agency PTI, on March 4, the SBI petitioned the apex court for an extension until June 30 to disclose the details of electoral bonds encashed by political parties. The bank argued that retrieving information from "each silo" and "decoding" electoral bonds and matching donors to donations due to stringent anonymity measures would be a time-consuming exercise. The data on bond issuance and redemption were maintained separately to safeguard donor anonymity, it said. (With inputs from agencies)

India: SC rejects SBI's electoral bond disclosure extension plea, directs it to share info by March 12

Hearing a petition challenging the validity of the electoral bond scheme, the Supreme Court on Friday directed all political parties to disclose details of donations received via electoral bond.

Supreme Court directs all parties to disclose details of donations received via electoral bondc

electoral-bond

Electoral Bond, News on Electoral Bond, stories on Electoral Bond, articles on Electoral Bond, Electoral Bond stories at Wion, Electoral Bond news, Electoral Bond latest news