The RTI also sought the details of the fees paid by the SBI to senior advocate Harish Salve to defend its case against the disclosure of the electoral bonds' records, citing that the records are held in a fiduciary capacity and the information is personal in nature.
The electoral bonds scheme for funding political parties should not become a tool for "legitimisation of quid pro quo" between power centres and people who are benefactors of that power, the Supreme Court said on Thursday as it underscored the need for reducing the cash component in the electoral process.
The assertion comes in the wake of the Supreme Court directing the SBI to submit the details of the electoral bonds purchased since April 12, 2019 to the EC.
About 82 per cent of the total income from unknown sources declared by national political parties in 2022-23 came from electoral bonds, according to a poll rights body.
'There is no scope for any doubt. This was a scheme designed to enrich the ruling party.'
The Supreme Court on Thursday directed the Election Commission of India (ECI) to produce before it in sealed cover the "up to date" data of funds received by political parties through electoral bonds till September 30, 2023.
'The Opposition will continue to be attacked through misuse of agencies, civil society will be force-marched towards extinction and India's plummeting on global indices will continue.' 'Minorities and especially Muslims will continue to have open season declared on them. Institutions will continue their decline,' predicts Aakar Patel.
'Mumbai main branch (SBI headquarter) has all the data ready-made. It doesn't take even an hour to out the data from the system.'
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Despite the objections raised by Reserve Bank of India and Election Commission, India's politics has been funded anonymously and it is time to end this, asserts Aakar Patel.
'The BJP was supporting him from behind in order to bring down the Congress government.'
Seen by political watchers as the favourite to retain power for a third straight term, the Bharatiya Janata Party has set itself an ambitious target of winning 370 Lok Sabha seats, a goal aimed as much at projecting its strength as at diminishing the opposition in popular imagination.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
The State Bank of India (SBI) on Wednesday told the Supreme Court that a total of 22,217 electoral bonds were purchased by donors between April 1, 2019 and February 15 this year, out of which 22,030 were redeemed by political parties.
'This mega corruption scandal, as certified by the Supreme Court, will expose the unholy nexus between the BJP and its corrupt corporate masters'
Congress leader Rahul Gandhi on Wednesday dubbed the electoral bonds as the 'world's biggest extortion scheme' and alleged that Prime Minister Narendra Modi is the 'champion of corruption'.
'He was the best court craftsman that I have ever seen who could modulate his arguments in accordance with the judge and the mood.'
Speaking at the Congress manifesto launch programme, Gandhi said it is a much closer contest than what is propagated by the media, and expressed confidence in winning the polls.
The Congress on Friday alleged that the electoral bonds data has exposed 'corrupt tactics' of the Bharatiya Janata Party such as quid pro quo, seeking donations for the company's protection, kickbacks and money laundering through shell companies.
Here are the 10 key issues likely to be the centre of discussion in the seven-phase general elections that begin on April 19.
Union Finance Minister Nirmala Sitharaman on Wednesday said she declined the offer of the Bharatiya Janata Party to contest elections pleading that she did not have the 'kind of funds' required for fighting the Lok Sabha polls.
Chastising the State Bank of India, the Supreme Court on Monday ordered it to disclose the details of the electoral bonds encashed by political parties to the Election Commission by the close of the business hours on March 12 and warned the country's largest public sector lender that the court may proceed against it for 'wilful disobedience' if it failed to comply with its directions and deadlines.
Given the 2024 general elections, it is unlikely that the allegations around electoral bonds, raised by the Opposition, will disappear easily or with a shrug of the BJP's shoulders and fabled 56-inch chest, argues Shyam G Menon.
Away from the courtroom and legal circles, Nariman was a familiar figure for residents of Hauz Khas who would see him walk regularly, even in the cold winter months of December and January.
'Who has given how much money to which party, the people of India must know this fact.'
Lawyer Prashant Bhushan, appearing for the NGO, alleged that the scheme is a means for channelising unaccounted black money in favour of the ruing party.
'My suspicion is that most of the bonds were given by companies who had got contracts or who had benefited from policy changes by the government.'
'It's not really going to bring about purity in the election process.'
The BJP game-plan: Take the top slot, or a close second, either for the 'Lotus' or the larger NDA, if it can and push the AIADMK to the third place, explains N Sathiya Moorthy.
The BJP and Congress are the top two beneficiaries of the electoral bonds, followed by the Trinamool Congress.
'Secrecy allowed in the electoral bonds scheme legalises anonymity'
'The most fundamental flaw with the electoral bond scheme is that it is designed to make anonymous donations.' 'It makes it easy for black money holders as well as corrupt corporates to donate money to the ruling party and ask for a quid pro quo without anybody getting any idea about it.'
'Justice B V Nagarathna has excellent human qualities and is a stickler for the law.'
History would not see the institution kindly if it continues to avoid, as appears to be the case, hearing and deciding some of the most pressing issues of our time, asserts Aakar Patel.
'There appears to be no larger public interest overriding the right to privacy of the donors and donees concerned'
"The amount collected from the sale of electoral bonds under the first issue of the scheme is Rs 222 crore as on March 9, 2018," Minister of State for Finance P Radhakrishnan said in a written reply in Lok Sabha.
Govt effort to curb black money in polls futile if identity of donors not known, says SC.
The Supreme Court on Friday dismissed a plea seeking stay on further sale of electoral bonds ahead of assembly elections.
The money stashed away in tax havens is estimated at between $5.6 trillion and $32 trillion, numbers to make your eyes pop, asserts T N Ninan.
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