Electoral bonds timeline concludes: Supreme Court nullifies scheme

By Vivek Dubey By Vivek Dubey CNBC-TV18.com CNBC-TV18.com Published Feb 15, 2024 Published Feb 15, 2024

In a landmark verdict, the Supreme Court nullifies the controversial electoral bonds scheme, ending a seven-year timeline.

Electoral bonds were introduced by the NDA in 2017 to bring transparency in political funding.

[{"selector":"#anim-66f15583-c831-4168-8412-84217fdc3a07","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-a1d0f4ec-a303-49fd-84df-f36811d84ba7","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The bonds were introduced with the Finance Bill (2017) and notified by the Centre on January 2, 2018.

[{"selector":"#anim-6735231e-508d-448d-9151-5c741ee6af13","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8a077ddc-4bce-48b5-82ff-5ac68ec0a168","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The Supreme Court became involved in 2017 when the ADR initiated a case questioning the legitimacy of the bonds.

[{"selector":"#anim-abfc69dd-cbd2-404f-99c7-c70ca23e88f7","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-0afb67d4-84c3-4d55-b592-9d81eb688330","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The case included multiple petitions from the Communist Party of India (Marxist) and Congress leader Jaya Thakur.

[{"selector":"#anim-e4de0d61-d2d0-431b-9653-65d642c6ef6f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-9b0b14a4-75e8-47e4-8179-8a74acdaef4c","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The petitions questioned the legitimacy of amendments in the Finance Act of 2017 and the Finance Act of 2016.

[{"selector":"#anim-f7f501fc-61c9-4aa0-900a-7ac9e036fea2","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-dffe3b39-957c-4c35-9801-950771dd7fb0","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

In 2019, the court ordered the Election Commission to submit all political funding data.

[{"selector":"#anim-d6e88765-82cb-4897-b413-32641fec2727","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-bc9104cc-f07a-4909-bf52-a12f2cbe51ed","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The case was adjourned in 2022 with a hearing scheduled for March 2023.

[{"selector":"#anim-b7a9669b-5364-4579-a7d0-d3a6144d1f7a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-d3085af5-8346-4672-9259-cbaa07713f71","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

In March 2023, petitioners sought a constitution bench to hear the matter.

[{"selector":"#anim-9924c0c2-da8c-4ed5-9173-3e894c9fef6c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f1470607-5255-4a4d-a1bb-ab353db09d17","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The case was heard by a five-judge constitution bench from October 31 to November 2.

[{"selector":"#anim-6b2b330d-d34f-4ae6-8dce-baf3a423cad4","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-31855f6c-9173-4802-99ee-cea5f1267faa","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

On November 2, the court reserved a bunch of pleas challenging the validity of the scheme.

[{"selector":"#anim-3214f6c0-2c47-4019-a658-d00c2303b6ab","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-097c0dc4-0717-4358-bc75-3d2b85188c4e","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The court directed the Election Commission to furnish all data on donations received through the scheme until September 30, 2023.

[{"selector":"#anim-9b2de721-109e-40e3-a7df-704b123fa8c3","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-cf24b2cc-82bf-4362-a360-09112c0c15c3","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Electoral bonds are interest-free banking instruments introduced in 2018 to facilitate transparent political funding.

[{"selector":"#anim-a3bfd585-4730-406b-b458-66baafd9a73c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-faf82cb5-f628-4610-9393-b2df89dca233","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-19ab745e-ca62-43f1-bb0b-d1cccf3a5e32","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-80013642-6bb0-4fce-b8ab-a7c4577d45a9","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The scheme aimed to “cleanse” the system of political funding by providing a legal and transparent mechanism for contributions.

[{"selector":"#anim-5c58303d-e7b0-4f18-8cfc-0544f6756fa2","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-08170b82-4142-4565-90d3-d53c2efaa869","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Despite the intended transparency, the scheme sparked controversy due to concerns about accountability and potential misuse.

[{"selector":"#anim-925fc25d-3749-4749-8df4-07ebdae80f1f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-b412be78-31f7-4dc9-ba98-9762b4e2c8e1","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The central government argued that the scheme was necessary to safeguard donors’ political affiliations under the right to privacy.

[{"selector":"#anim-2dce4fb5-2e43-4ed6-9d68-439444b825a0","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-65ff863e-1f63-4e4f-85ac-3b973268e9a2","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-b16a108e-535d-4592-af97-48751f56734a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-62.58571405868585%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Supreme Court strikes down electoral bonds scheme as 'unconstitutional'

Thanks For Reading! Thanks For Reading! Read Next

Electoral bonds timeline concludes: Supreme Court nullifies scheme

In a landmark verdict, the Supreme Court nullifies the controversial electoral bonds scheme, ending a seven-year timeline.

Electoral bonds were introduced by the NDA in 2017 to bring transparency in political funding.

Bonds Introduction

The bonds were introduced with the Finance Bill (2017) and notified by the Centre on January 2, 2018.

Finance Bill

The Supreme Court became involved in 2017 when the ADR initiated a case questioning the legitimacy of the bonds.

Court’s Involvement

The case included multiple petitions from the Communist Party of India (Marxist) and Congress leader Jaya Thakur.

Multiple Petitions

The petitions questioned the legitimacy of amendments in the Finance Act of 2017 and the Finance Act of 2016.

Finance Act Amendments

In 2019, the court ordered the Election Commission to submit all political funding data.

Interim Order

The case was adjourned in 2022 with a hearing scheduled for March 2023.

Case Adjourned

In March 2023, petitioners sought a constitution bench to hear the matter.

Constitution Bench

The case was heard by a five-judge constitution bench from October 31 to November 2.

Hearing Begins

On November 2, the court reserved a bunch of pleas challenging the validity of the scheme.

Judgment Reserved

The court directed the Election Commission to furnish all data on donations received through the scheme until September 30, 2023.

Data Submission

Electoral bonds are interest-free banking instruments introduced in 2018 to facilitate transparent political funding.

Bonds Explained

The scheme aimed to “cleanse” the system of political funding by providing a legal and transparent mechanism for contributions.

Scheme’s Purpose

Despite the intended transparency, the scheme sparked controversy due to concerns about accountability and potential misuse.

Controversy

The central government argued that the scheme was necessary to safeguard donors’ political affiliations under the right to privacy.

Government’s Stand

Supreme Court strikes down electoral bonds scheme as 'unconstitutional'

Supreme Court strikes down electoral bonds scheme as 'unconstitutional'