Hours after the Supreme Court struck down the electoral bonds scheme as unconstitutional on February 15, Tamil Nadu Chief Minister MK Stalin issued a short statement praising the verdict. “The Hon’ble Supreme Court has rightly held that the Electoral Bonds are unconstitutional. This will ensure a transparent electoral process and the integrity of the system. This judgement has restored democracy and level playing field for all political parties. It has also ensured the common man’s faith in the system,” Stalin said.
The SC bench headed by Chief Justice of India DY Chandrachud and comprising Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra held that electoral bonds are violative of right to information and Article 19(1)(a)—the right to freedom of speech and expression.The judges disagreed with the Union government’s argument that citizens do not have the right to know the funding of political parties.
Moreover, the court ordered the State Bank of India (SBI) to stop issuing electoral bonds with immediate effect. SBI has also been directed to submit the details of all political parties that have received electoral bonds and the particulars on the funds received to the Election Commission of India (ECI) by March 6. Further, the ECI has been told to publish these details on its official website by March 13.
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