The Supreme Court rejected the State Bank of India’s request for an extension until June 30 to submit details of electoral bonds to the Election Commission of India. Instead, the apex court mandated that SBI must disclose the electoral bond details by the end of business hours on March 12. Additionally, the Election Commission has been directed to publish this information on its website by Friday at 5 p.m.
Furthermore, the court warned of potential contempt proceedings against the government-run bank if it failed to provide the requested documents by the given deadline. Chief Justice of India DY Chandrachud, leading the five-judge Constitution bench, expressed concern over the bank’s lack of progress in collating and providing the information, particularly noting that the donor details were already available in a sealed cover at an SBI branch in Mumbai.
The Supreme Court’s decision came after it declared the electoral bond scheme illegal on February 15 and instructed SBI to furnish information on all electoral bond acquisitions since April 12, 2019, by March 6. Despite this directive, SBI sought an extension on March 4, citing the time-consuming nature of the process due to confidentiality rules. However, this request was met with skepticism, with critics accusing the bank of intentional delay to protect donor identities ahead of the upcoming Lok Sabha elections.
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