Editor's Pick | SC tells SBI to disclose complete electoral bond data

The Supreme Court on Monday asked the State Bank of India (SBI) to be “candid and fair” and not selective while directing it to make a “complete disclosure” of electoral bonds’ data, including their unique hidden alphanumeric and serial numbers, to the Election Commission (EC) for publication. The Cout said the information on electoral bonds forwarded to the EC should contain “all details in terms of purchase and in terms of receipt of contributions” to political parties under the electoral bonds scheme. The Bench clarified that its February 15 judgment striking down the electoral bonds scheme had specified the disclosure of data on poll bonds purchased and redeemed with effect from April 12, 2019, till the date of the verdict. The Bench said it had taken a conscious decision to keep the cut-off date as April 12, 2019, as that was the date on which the Court had put the stakeholders in the case on notice to provide information. On Monday, the Court made it clear that the unique numbers had to be disclosed to give “logical and complete effect to the ruling” of February 15. Chief Justice Chandrachud questioned the SBI about the purpose of the alphanumeric numbers. “Is it only a security feature or is it to help create an audit trail?” the Chief Justice asked. Solicitor-General Tushar Mehta, for the Centre, drew the Court’s attention to the distortion of facts and numbers, and the “witch-hunting” which had followed the judgment and the publication of the electoral bonds’ data. Chief Justice said the Court’s duty was over with the pronouncement of the judgment. Heres’ a collection of articles by The Hindu’s reporters that decode the data provided by SBI so far. On Monday, the SC also refused to urgently hear an intervention by industry associations against a March 15 order seeking an explanation from the SBI on the non-disclosure of the unique alphanumeric numbers of electoral bonds. Meanwhile, new documents revealing the names of companies and individuals have shown that the Janata Dal (Secular) received ₹48.75 crore in Karnataka before April 12, 2019, through the electoral bond route and ₹43 crore thereafter. The NCP encashed ₹37.75 crore between January 18 and May 9, 2019. Even as the SC has directed full disclosure of electoral bonds purchased after April 2019, information about a chunk of bonds bought and encashed during the first year of the anonymous political funding scheme will continue to remain hidden from the public eye. This will mean that information on who bought how many bonds to donate to which party between March 1, 2018, and April 11, 2019, would continue to remain under wraps even though the SC had held the entire scheme, from start to finish, to be plainly unconstitutional in its judgment. The Hindu’s Editorials Trade puzzle: On exports and global trade Hollow victory: On the Russian election, Putin’s win The Hindu’s Daily News Quiz Which regional political party received ₹509 crore in electoral bonds from ‘lottery king’ Santiago Martin’s Future Gaming and Hotel Services? Jana Sena Party DMK UDF YSRCP To know the answer and to play the full quiz, click here. [logo] Editor's Pick 19 March 2024 [The Hindu logo] In the Editor's Pick newsletter, The Hindu explains why a story was important enough to be carried on the front page of today's edition of our newspaper. [Arrow]Open in browser [Mail icon]More newsletters SC tells SBI to disclose complete electoral bond data The Supreme Court on Monday asked the State Bank of India (SBI) to be “candid and fair” and not selective while directing it to[ make a “complete disclosure” of electoral bonds’ data]( including their unique hidden alphanumeric and serial numbers, to the Election Commission (EC) for publication. The Cout said the information on electoral bonds forwarded to the EC should contain “all details in terms of purchase and in terms of receipt of contributions” to political parties [under the electoral bonds scheme.]( The Bench clarified that its [February 15 judgment striking down the electoral bonds scheme]( had specified the [disclosure of data on poll bonds purchased and redeemed with effect from April 12, 2019]( till the date of the verdict. The Bench said it had taken a conscious decision to keep the cut-off date as April 12, 2019, as that was the date on which the Court had put the stakeholders in the case on notice to provide information. On Monday, the Court made it clear that the unique numbers had to be disclosed to give “logical and complete effect to the ruling” of February 15. Chief Justice Chandrachud questioned the SBI about the purpose of the alphanumeric numbers. “Is it only a security feature or is it to help create an audit trail?” the Chief Justice asked. Solicitor-General Tushar Mehta, for the Centre, drew the Court’s attention to the distortion of facts and numbers, and the “witch-hunting” which had followed the judgment and the publication of the electoral bonds’ data. Chief Justice said the Court’s duty was over with the pronouncement of the judgment. Heres’ a [collection of articles by The Hindu’s reporters that decode the data provided by SBI so far](. On Monday, [the SC also refused to urgently hear an intervention by industry associations]( against a March 15 order seeking an explanation from the SBI on the non-disclosure of the unique alphanumeric numbers of electoral bonds. Meanwhile, new documents revealing the names of companies and individuals have shown that the [Janata Dal (Secular) received ₹48.75 crore in Karnataka before April 12, 2019]( through the electoral bond route and ₹43 crore thereafter. The [NCP encashed ₹37.75 crore between January 18 and May 9, 2019](. Even as the SC has directed full disclosure of electoral bonds purchased after April 2019, information about a chunk of bonds bought and encashed during the [first year of the anonymous political funding scheme will continue to remain hidden]( from the public eye. This will mean that information on who bought how many bonds to donate to which party between March 1, 2018, and April 11, 2019, would continue to remain under wraps even though the SC had held the entire scheme, from start to finish, to be plainly unconstitutional in its judgment. The Hindu’s Editorials [Arrow][Trade puzzle: On exports and global trade]( [Arrow][Hollow victory: On the Russian election, Putin’s winÂ]( The Hindu’s Daily News Quiz Which regional political party received ₹509 crore in electoral bonds from ‘lottery king’ Santiago Martin’s Future Gaming and Hotel Services? - Jana Sena Party - DMK - UDF - YSRCP To know the answer and to play the full quiz, [click here](. 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