The "opaque" electoral bonds scheme for funding political parties will "destroy democracy" as it promotes corruption and does not allow a level playing field between the ruling and opposition parties, the petitioners challenging the validity of the scheme told the Supreme Court, which on Tuesday observed election funding was a "complicated issue".
The common man in India is bogged down by corruption and there is a need to fix accountability at all levels, the Supreme Court observed on Friday as it dealt with a petition seeking debarment of those against whom charges have been framed in criminal cases from contesting elections.
The Supreme Court on Tuesday said it will consider whether the pleas challenging the validity of the electoral bond scheme for political funding of parties can be referred to a Constitution bench for an "authoritative pronouncement".
Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding.
The bench said the petition has relied on a March 2 verdict of the apex court which had ruled that the appointment of the Chief Election Commissioner and ECs will be done by the President on the recommendation of a committee, comprising the prime minister, Leader of the Opposition in Lok Sabha and the CJI, to maintain the "purity of election".
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.
The Supreme Court Wednesday flagged the issue of possible misuse of funds received through electoral bonds by political parties for illegal purposes like terrorism and asked the Centre whether there was any 'control' over how these funds were put to use.
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