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The Supreme Court on Monday rejected the plea of State Bank of India, seeking additional time and ordered it to disclose the details of electoral bonds to the Election Commission by end of day on March 12.
The five-judge Constitution bench headed by Chief Justice D Y Chandrachud also directed the EC to publish the details shared by the bank on its official website by 5 pm on March 15.
The bench also put the SBI on notice that the apex court may be inclined to proceed against it for “wilful disobedience” of its February 15 verdict if the bank failed to comply with its fresh directions.
In a verdict on February 15, the SC had junked the central government’s electoral bonds scheme that allowed anonymous political funding. The SC termed the scheme “unconstitutional” and ordered disclosure by the EC of donors, the amount donated by them and the recipients by March 13.
It ordered the the authorised financial institution under the scheme — State Bank of India– to submit by March 6 the details of the electoral bonds purchased till date to the Election Commission. On March 5, SBI expressed it inability to provide the details by the scheduled date and sought time till June 30 to file the same.
On Monday, the SC was hearing the bank’s application seeking an extension of time. It was also hearing separate pleas seeking contempt action against the SBI for alleged wilful disobedience of the apex court’s February 15 directives.
It observed that SBI’s submissions in the application sufficiently indicated that the information which was directed to be disclosed by the court was readily available.
“In view of the above discussion, the miscellaneous application filed by SBI seeking an extension of time for the disclosure of details of the purchase and redemption of electoral bonds until June 30, 2024, is dismissed,” it said.
“SBI is directed to disclose the details by the close of business hours of March 12,” the bench said, adding, “As regards the ECI, we direct that ECI shall compile the information and publish the details on its official website no later by 5 pm on March 15, 2024”.
The bench directed SBI to to file an affidavit of its chairman and managing director on compliance with the directions issued by the top court.