Supreme Court Has Issued Judgement On The Electoral Bonds

The Supreme Court, led by Chief Justice of India DY Chandrachud and including Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra, heard petitions concerning the verdict on the electoral bonds scheme. On Thursday, the Court rendered its judgement, deeming the scheme unconstitutional and violating Article 19(1)(a). The five-judge bench delivered two separate but unanimous verdicts on the challenges to the scheme, following the reservation of the verdict on November 2, 2023.

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The Judgement Arrives Several Months Ahead Of The 2024 Lok Sabha Elections

The judgement arrives several months ahead of the 2024 Lok Sabha elections. Instituted in 2017, the electoral bond system permitted individuals and companies to contribute funds to political parties confidentially and without any restrictions. Under this system, an individual or company could purchase electoral bonds from the State Bank of India and contribute them to a political party of their preference.

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The Verdict

The verdict stated, “There is a genuine potential for financial contributions to a political party to result in a quid pro quo arrangement due to the intimate connection between money and politics. The Electoral Bond scheme and the contested provisions, to the extent that they encroach upon the voter’s right to information through anonymous contributions via Electoral Bonds, violate Article 19(1)(a).”