Electoral Bond

40 regional parties earned ₹2,532 cr in FY24, 70% via electoral bonds: ADR

Around 40 regional political parties declared a combined income of Rs 2,532.09 crore in the financial year 2023-?24, with more than 70 per cent of their funds coming through electoral bonds, according to an analysis by poll rights body Association for Democratic Reforms (ADR). The Bharat Rashtra Samithi (BRS) reported the highest income at Rs 685.51 crore, followed by the Trinamool Congress (TMC) with Rs 646.39 crore, the Biju Janata Dal (BJD) with Rs 297.81 crore, the Telugu Desam Party (TDP) with Rs 285.07 crore and YSR Congress with Rs 191.04 crore. These top five parties accounted for 83.17 per cent of the total income declared by the 40 regional parties. "The total income of the 40 regional parties for FY 2023-24 was Rs 2,532.096 crore. More than 70 per cent of the total income (Rs 1,796.024 crore) of the 40 regional political parties analysed for FY 2023-24 came from donations through electoral bonds," the report said. The ADR said that audit reports of 20 regional parties we

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SC rejects plea to review ruling on electoral bonds fund confiscation

The Supreme Court has dismissed a plea seeking the review of its decision against the petitions for confiscating Rs 16,518 crore received by political parties under the 2018 electoral bond scheme. A bench of Chief Justice Sanjiv Khanna and Justices J B Pardiwala and Manoj Misra dismissed the review plea filed by one Khem Singh Bhati against the top court's decision of August 2, 2024. The apex court had then rejected the petition seeking confiscation of money received under the scheme. The bench on March 26 held, "The review petition is dismissed in terms of the signed order. Pending application(s), if any, shall stand disposed of." The top court's order, made available recently, also refused to accept Bhati's prayer for an open-court hearing in the matter. A five-judge Constitution bench headed by former CJI D Y Chandrachud on February 15 last year scrapped the electoral bonds scheme of anonymous political funding introduced by the BJP government. Following the top court's judgem

Experts intrigued by inclusion of electoral bonds in new Income-Tax Bill

Experts are intrigued by the new Income Tax Bill, 2025 retaining provisions related to electoral bonds, which were rendered unconstitutional by the Supreme Court last year, saying it could be because of legislative oversight or the government's intention to bring it back in some other form. Electoral bonds have been mentioned in the new Income Tax Bill's Schedule VIII which deals with 'Income not to be included in the total income of political parties and electoral trusts'. In a judgement passed on February 15 last year, the Supreme Court had scrapped the Centre's electoral bonds scheme of anonymous political funding, calling it "unconstitutional" as it was "violative" of the right to freedom of speech and expression and right to information. Under the existing Income Tax Act, 1961, donations received from companies and individuals through electoral bonds are exempt in the hands of political parties. The government has brought in a new Income Tax Bill to replace the 64-year old I-T

Ex-CJI Chandrachud defends SC ruling on Article 370, PM Modi's puja visit

In an interview, Justice (Retd) DY Chandrachud addressed criticism of the court's decision to uphold the Centre's move to abrogate Jammu and Kashmir's special status

Year of judicial milestones: Landmark SC verdicts, policy shifts in 2024

From taking a strong stance against 'bulldozer justice' to overruling past judgment on legislative immunity for bribery, the top court set several precedents during the year to uphold the constitution

From Article 370 to RTI: Justice Sanjiv Khanna's defining judgments

Upon receiving clearance from the Centre, Justice Sanjiv Khanna will assume the role of the 51st Chief Justice of India, serving for six months before retiring on May 13, 2025

SC rejects pleas for court-monitored SIT probe into electoral bonds scheme

The Supreme Court on Friday rejected a batch of pleas seeking a court-monitored investigation into the electoral bonds scheme while observing that it cannot order a roving inquiry. A bench comprising Chief Justice D Y Chandrachud and Justice JB Pardiwala said it would be "premature" and "inappropriate" to order a probe under a retired judge when the remedies available under the ordinary law governing criminal law procedure have not been invoked. The top court said it cannot order a roving inquiry into purchase of electoral bonds on the assumption of a quid pro quo for award of contract. "The court entertained petitions challenging electoral bonds since there was an aspect of judicial review. But the cases involving criminal wrongdoing should not be under Article 32 when there are remedies available under the law," the bench said. Article 32 empowers a citizen to approach the Supreme Court directly for enforcement of their fundamental rights recognised by the Constitution. The apex

SC to hear PIL for court-monitored SIT probe into electoral bonds on Monday

The Supreme Court is scheduled to hear on Monday a public interest litigation seeking a court-monitored investigation into the electoral bonds scheme. A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoj Misra is likely to hear the PILs filed by NGOs Common Cause and the Centre for Public Interest Litigation (CPIL). The PIL of the two NGOs alleges an "apparent quid pro quo" between political parties, corporations and investigative agencies. Terming the electoral bonds scheme a "scam", the plea sought a direction to authorities to investigate the source of funding of "shell companies and loss-making companies which made donations to various political parties, as has been disclosed by the data released by the Election Commission (EC)". The petition has also sought a direction to the authorities to recover the money donated by companies as part of "quid pro quo arrangements where these are found to be proceeds of crime". A five-judge Constitution bench

SC to hear petitions seeking SIT probe in electoral bonds scheme on July 22

A top court bench led by Chief Justice D Y Chandrachud on Friday took the note of the submissions made by senior lawyer Prashant Bhushan and listed the PILs for July 22

State Bank of India once again refuses to disclose electoral bond SOPs

State Bank of India has declined to disclose its SOPs for electoral bond transactions, citing 'commercial confidence' and asserting them as the bank's 'intellectual property'

NGOs urge SC to list PIL seeking SIT probe into electoral bonds scheme

Two NGOs on Tuesday urged the Supreme Court to consider listing their PIL seeking a court-monitored probe by a special investigation team into alleged instances of "apparent quid pro quo" involving political parties, corporate entities and officials of investigative agencies in the electoral bonds scheme. A bench comprising Justices Sanjiv Khanna and Dipankar Datta took note of the submissions of lawyer Prashant Bhushan, appearing for NGOs Common Cause' and the Centre for Public Interest Litigation (CPIL), that the plea needed to be listed for hearing at the earliest. The CJI's office is seized of it. It will be listed, Justice Khanna told Bhushan. A five-judge Constitution bench had on February 15 scrapped the electoral bonds scheme of anonymous political funding introduced by the BJP government. Terming it a "scam", the plea filed by the NGOs has sought a direction to the authorities to investigate the source of funding of "shell companies and loss-making companies which made ...

Electoral bonds used as bribe by companies for contracts: Prashant Bhushan

Lawyer Prashant Bhushan on Saturday labelled the electoral bonds as the biggest scam in the history of Indian democracy and alleged that they were used as bribes for contracts, shielding people from central probe agencies, manipulating policies, and influencing drug regulators. He said the Supreme Court will soon commence hearing on a petition filed before it seeking a probe by a Special Investigation Team (SIT) into alleged quid pro quo arrangements between corporates and political parties. "The electoral bonds were used (by companies) as bribes to get contracts, to protect themselves from the Enforcement Directorate (ED) and the CBI and to save themselves from drug regulators," Bhushan said. Out of the Rs 16,500-crore electoral bonds, half went to the BJP and the rest to parties like the TMC and the Congress. However, those who were not ruling did not get any money, he said. "I see that Rs 5,000-crore worth of electoral bonds were issued, resulting in the sanctioning of contracts

LS polls: Mayawati slams BJP for taking money through electoral bonds

BSP chief Mayawati on Friday slammed hit out at the BJP for taking money via "illegal" electoral bonds, and said both the saffron party and the Congress were responsible for "politicising" the central agencies. The Bahujan Samaj Party chief asserted that her party "did not take a single penny" through electoral bonds, which she said was declared illegal by the Supreme Court. "BJP has become a party of the wealthy but has done nothing for the poor, Dalits and backward classes," Mayawati said. "BJP has given hollow guarantees and it would be difficult for it to retain power at the Centre if the elections are held in a free and fair manner," she added. She went on to accuse the BJP and Congress both for politicising all federal investigative agencies. Mayawati also claimed that quota in government jobs for Dalits, tribals and other backward classes has not been filled in the past year. The former UP chief minister appealed to people to vote in favour of BSP candidates Rajesh Dwivedi

Electoral bonds: Plea in SC seeks SIT probe into alleged quid pro quo

A plea has been filed in the Supreme Court seeking a court-monitored probe by an special investigation team (SIT) into the alleged instances of "apparent quid pro quo" between political parties, corporates and officials of investigating agencies in donations via electoral bonds. A five-judge constitution bench of the apex court had on February 15 scrapped the Centre's electoral bonds scheme of anonymous political funding. Following a Supreme Court directive, the State Bank of India, which was the authorised seller of electoral bonds, had shared the data with the Election Commission, which later made the data public. The electoral bonds scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of its efforts to bring transparency in political funding. The plea, filed through advocate Prashant Bhushan, has sought a direction to the authorities to investigate the source of funding of "shell compan

BJP may bring back electoral bonds after 2024 elections: FM Sitharaman

Electoral bond issue: Finance Minister Sitharaman said electoral bonds could be reintroduced with improvements for transparency and stakeholder consultations if BJP came back to power after the ongoin

Electoral bonds better than giving sacks of money to parties, says FM

Union Finance Minister Nirmala Sitharaman on Tuesday targeted the Congress for dropping the restoration of the old pension scheme that it promised in many states from its Lok Sabha election manifesto, saying the party is an expert in misleading people for votes. The senior BJP leader also defended the electoral bond scheme, saying it was introduced through a law passed in Parliament and was a better system as the transfer of money was visible in accounts instead of the earlier practice when cash-filled "sacks" and "suitcases" were given to parties. "Whether the system is perfect is a different matter, but it is a better system than what was there earlier because money will be visible in the accounts on both sides," she said at a press conference here. Rejecting the opposition's criticism over rising prices, she said the Centre's record is clear as it has taken continuous steps to reduce inflation and efforts are being made to reduce it further. She hit out at the previous Ashok Geh

Rahul slams PM Modi over electoral bonds, calls it 'form of extortion'

Senior Congress leader Rahul Gandhi launched an attack on Prime Minister Narendra Modi on Tuesday over the electoral bonds issue, describing it as a "form of extortion" and alleging "intimidatory tactics" against targeted businessmen. "There are some people in every small town or village who extort money on the streets by threatening physical harm. In Malayalam, you call this extortion 'kolla adikkal' (loot), but Modi calls it electoral bonds. What a common thief is doing on the streets, the PM is doing at an international level," Gandhi alleged. During his campaign in Wayanad Lok Sabha constituency, the Congress candidate accused the BJP-led central government of using sophisticated tactics to threaten targeted businessmen. He also lashed out at Modi, accusing him of helping a few rich businessmen in the country. "At the electoral bond level, the threats are much more sophisticated. The ED, CBI and Income Tax people will come, they will interrogate and at the end of it, they will

Watch: What did PM Modi say on electoral bonds?

Watch what Prime Minister Narendra Modi said on electoral bonds.

PM Narendra Modi hints at bringing fresh scheme for electoral funding

Modi said the next govt will share these drafts with the states, and invite their inputs, which he hopes to discuss threadbare with the CMs at a NITI Aayog meeting to be called after Lok Sabha polls