The Supreme Court has refused to stay the issue of electoral bonds on 26 March. The country’s top court has approved the issuance of the first phase of electoral bonds for the Assam, Kerala, Tamil Nadu, West Bengal and Puducherry assembly elections from 1 April.
Hearing the matter, the court said that these bonds were approved for release without any hindrance in 2018-19. All security measures have been adopted in them. Therefore, there is no question of banning electoral bonds at present.
The bench, comprising Chief Justice of India SA Bobde, Justice AS Bopanna and V Ramasubramaniam, hearing the case, reserved its order on 24 March.
Explain that the Association for Democratic Reform (ADR) had filed a petition on this issue. Hearing this, the Supreme Court has given this order.
Explain that electoral bonds are a type of financial instrument that is used to give donations to political parties. These bonds are issued by the Scheduled Commercial Banks after getting approval from the Central Government. Their trading and trading is done only through digital means and checks. They cannot be purchased through cash (cash).
These bonds can be redeemed in the bank account of a registered political party within a certain period of time from the date of issue.
Let us know that Electoral Bond has been in controversy since the beginning. Has been raising the issue of their misuse. Earlier on Wednesday, the court had reserved its verdict and asked the Central Government questions regarding the misuse of the electoral bond.
In the petition filed in the Supreme Court, it was alleged that the game of bribing the ruling party in the name of donations through electoral bond is going on, which should be stopped. However, through electoral bonds, not one party, but all parties receive donations.
Earlier in the last hearing, the Supreme Court had asked the Central Government about the possibility of misuse of funds raised by political parties in electoral bonds such as terrorism. The Supreme Court wanted to know whether there is any control over the use of this fund?
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