Election Commission Releases Electoral Bonds Data Ahead of Deadline

In a significant move towards transparency, the Election Commission of India has published the data on electoral bonds on its official website, a full day before the stipulated deadline. The information was promptly uploaded on the site as soon as it was received from the State Bank of India on March 12.

The State Bank of India, on Tuesday evening, furnished the intricate details regarding the entities that purchased the now-defunct electoral bonds and the political parties that redeemed them. This action came in response to the Supreme Court’s directive, which mandated the Election Commission to disclose these crucial data by 5 pm on March 15.

Also Read : Market Plunge Sends Shockwaves: More than 1,100 Stocks Hit Lower Circuit

The Supreme Court’s decision to invalidate the Centre’s electoral bonds scheme, labeling it “unconstitutional,” was announced on February 15. The court further ordered the EC to divulge information regarding donors, their contribution amounts, and the recipients. Despite the State Bank of India’s plea for an extension until June 30 to disclose these details, the apex court rejected it, compelling the bank to submit all pertinent information to the Election Commission before the close of business hours on Tuesday.

The Election Commission, echoing its steadfast commitment to transparency, emphasized its consistent stance favoring disclosure in the matter. This stance, it asserted, had been consistently upheld throughout the proceedings in the Hon’ble Supreme Court, a sentiment duly acknowledged in the court’s order.

Also Read : Dollar Tree (NASDAQ: DLTR) Shares Drop in Pre-Market Trading

The released data comprises two sections: the first section spans 337 pages and delineates the entities involved in purchasing electoral bonds, while the second section, consisting of 426 pages, furnishes comprehensive information about the political parties engaged in bond redemption.