India News | SC Agrees to Hear Plea on Electoral Bonds Scheme Amendment
Get latest articles and stories on India at LatestLY. The Ministry of Finance on November 7 issued a notification for amending the scheme to provide "an additional period of 15 days" for their sale "in the year of general elections to the Legislative Assembly of States and Union Territories with Legislature".
New Delhi [India], November 14 (ANI): The Supreme Court on Monday agreed to hear a fresh plea filed relating to the Centre amending the electoral bonds scheme to allow their sale for 15 extra days during the "year of general elections to the legislative assembly of States and Union territories with the legislature".
The plea was mentioned by senior advocate Anoop George Chaudhary before the apex court saying the notification is wholly illegal.
A bench of Chief Justice of India DY Chandrachud and Justice JB Pardiwala said that it would list the matter for hearing.
The plea filed by Congress leader Jaya Thakur challenged the electoral bond scheme which allows for anonymous funding of political parties.
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An electoral bond is an instrument in the nature of a promissory note or bearer bond which can be purchased by any individual, company, firm or association of persons provided the person or body is a citizen of India or incorporated or established in India. The bonds are issued specifically for the purpose of contributing of funds to political parties.
The Ministry of Finance on November 7 issued a notification for amending the scheme to provide "an additional period of 15 days" for their sale "in the year of general elections to the Legislative Assembly of States and Union Territories with Legislature".
"An additional period of fifteen days shall be specified by the central government in the year of general elections to the legislative assembly of states and Union territories with the legislature," the gazette notification said.
The government notified the Electoral Bond Scheme in 2018. As per provisions, electoral bonds may be purchased by a person, who is a citizen of India or incorporated or established in India.
The statement also said a person being an individual could buy electoral bonds, either singly or jointly with other individuals.
The bonds under this scheme are usually made available for purchase by any person for a period of ten days each in the months of January, April, July, and October, when specified by the Union government. The original scheme had provided for an additional period of thirty days, as specified by the government, in the year when Lok Sabha elections are held, while the amendment adds another 15 days.
Various petitions have already been pending before the top court challenging at least amendments made to different statutes through the Finance Act 2017 and Finance Act 2016 on the ground that they have opened doors to unlimited, unchecked funding of political parties.
NGOs Association of Democratic Reforms and Common Cause have said that the Finance Bill, 2017, which paved the way for the introduction of the electoral bond scheme, was passed as a money bill even though it wasn't. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)