Electoral Bond: SBI is Duty Bound to Reveal Unique Alphanumeric Codes- Says SC

The Supreme Court emphasized that the State Bank of India is Duty Bound to reveal the unique alphanumeric codes of the electoral bonds received by political parties. This directive comes in response to the bank’s failure to comply with the court’s previous ruling, which mandated the disclosure of all bond details, including purchaser information, amounts, and purchase dates.

The Chief Justice, leading a five-judge bench, reiterated the court’s stance on the matter, stating that the SBI must furnish all necessary details, including the bond numbers. The failure to disclose this information, he emphasized, is a breach of duty on the part of the bank.

The Court issued a notice to the SBI and scheduled a hearing for March 18 to address the matter further. It underscored that the alphanumeric codes are crucial for matching bond purchasers with the political parties they support.

Additionally, the Court addressed an application from the Election Commission seeking a modification of its previous order regarding the handling of data related to electoral bonds. It directed the registrar to digitize the data previously submitted by the EC and ensure its availability for public access.

Senior advocates representing various parties reiterated the Court’s verdict, highlighting the clear obligation for the SBI to disclose all electoral bond details to the EC. The Solicitor General clarified that he represented the government, not the SBI, suggesting that the bank should also be involved in the proceedings.

The Court directed the registry to issue a notice to the SBI, returnable on March 18, to address its failure to disclose the alphanumeric numbers of the electoral bonds.

In its previous order on March 11, the Court had dismissed the SBI’s request for an extension and mandated the disclosure of electoral bond details to the EC by March 12. It further instructed the EC to publish this information on its website by March 15.

The EC complied with this directive, publishing the electoral bond data on its website ahead of the deadline. The application filed by the EC emphasized the need to maintain the documents submitted during the hearing in sealed covers, as per the Court’s previous directions.

These actions stem from the Court’s earlier rulings, including its landmark verdict on February 15, which declared the electoral bonds scheme unconstitutional and mandated disclosure of donor information by March 13.