The Supreme Court today rejected the State Bank of India's (SBI) request for an extension to disclose details of the electoral bonds scheme. The bank has been instructed to share the information with the Election Commission of India by tomorrow, with the poll body mandated to publish the details on its website by 5 pm on Friday.
During the hearing on the SBI's plea for additional time to provide details of the now-defunct electoral bonds scheme, the five-judge bench of Supreme Court posed tough questions to the bank regarding its actions over the past 26 days.
“The SBI has to just open the sealed cover, collate details, and give information to the Election Commission,” said the Supreme Court.
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SBI had approached the court seeking an extension until June 30 to disclose the details, following the court's landmark verdict on February 15, which invalidated the electoral bonds scheme and directed the Election Commission of India to make donation details public by March 13.
The Association for Democratic Reforms (ADR), one of the petitioners challenging the electoral bonds scheme, opposed SBI's plea for more time. ADR argued that the bank's application was filed at the last minute to delay the public disclosure before the upcoming Lok Sabha elections.
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Senior Advocate Harish Salve, representing SBI, asked for additional time to comply with the court's order. He highlighted the complexity of collating information, especially considering the confidentiality surrounding electoral bonds.
Chief Justice Chandrachud expressed expectations for transparency from SBI and questioned the progress made in the last 26 days. Salve assured the court of submitting a detailed affidavit outlining the challenges faced in collating information.
Chief Justice of India DY Chandrachud and Justice Sanjiv Khanna underscored the importance of promptly disclosing the details. The Chief Justice pointed out that SBI had not provided sufficient information regarding the work undertaken in the past 26 days since the court's verdict.
"Please tell what matching you have done in the last 26 days. There is a degree of candour expected from SBI as to this is the work which was expected and this has been done," he said.
Harish Salve acknowledged the time-consuming nature of the task and expressed concerns about potential legal repercussions if errors were made. The Chief Justice noted the seriousness of the matter, especially given a senior SBI official's affidavit seeking modifications to the court's judgment.
In its February 15 ruling, the Supreme Court declared the electoral bonds scheme unconstitutional, citing violations of citizens' right to information.