TMI Blog2024 (3) TMI 586X X X X Extracts X X X X X X X X Extracts X X X X ..... f Electoral Bonds until 30 June 2024 is dismissed. SBI is directed to disclose the details by the close of business hours on 12 March 2024. During the pendency of the proceedings before the Constitution Bench, ECI had, in compliance with the interim order passed by this Court, filed its statements which have been maintained in the custody of the Court. Copies of the statements which were filed by the ECI before this Court would be maintained in the Office of the ECI. ECI shall forthwith publish the details of the information which was supplied to this Court in pursuance of the interim orders on its official website. The Miscellaneous Application for extension of time shall accordingly stand dismissed. - HON'BLE THE CHIEF JUSTICE DR DHANANJAYA Y CHANDRACHUD, HON'BLE MR. JUSTICE SANJIV KHANNA , HON'BLE MR. JUSTICE B.R. GAVAI , HON'BLE MR. JUSTICE J.B. PARDIWALA And HON'BLE MR. JUSTICE MANOJ MISRA For the Petitioner : Mr. Harish Salve, Sr. Adv. Mr. Tushar Mehta, SG Mr. Sanjay Kapur, AOR Ms. Divya Singh Pundir, Adv. Mr. Devesh Dubey, Adv. Ms. Mahima Kapur, Adv. Ms. Mansi Kapur, Adv. Mrs. Shubhra Kapur, Adv. Mr. Arjun Bhatia, Adv. Mr. Surya Prakash, Adv. Ms. Isha V ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Electoral Bond. 4. The ECI was directed to collate the information to be submitted by the SBI and publish it on its website by 13 March 2024. The directions of this Court are extracted below: 219. In view of our discussion above, the following directions are issued: a. The issuing bank shall herewith stop the issuance of Electoral Bonds; b. SBI shall submit details of the Electoral Bonds purchased since the Interim order of this Court dated 12 April 2019 till date to the ECI. The details shall include the date of purchase of each Electoral Bond, the name of the purchaser of the bond and the denomination of the Electoral Bond purchased; c. SBI shall submit the details of political parties which have received contributions through Electoral Bonds since the interim order of this Court dated 12 April 2019 till date to the ECI. SBI must disclose details of each Electoral Bond encashed by political parties which shall Include the date of encashment and the denomination of the Electoral Bond; d. SBI shall submit the above information to the ECI within three weeks from the date of this judgment, that is, by 6 March 2024; e. The ECI shall publish the information shared by the SBI on Its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in seeking an extension of time. 8. The SBI seeks an extension of time on the ground that the process of decoding the Electoral Bonds and matching the donor to the donations is a complex and time-consuming exercise. To substantiate this argument, the SBI has averred that: (a) Information is not available in a digital format: Clause 7.1.2 of the Standard Operating Procedure regarding the sale and redemption of Electoral Bonds stipulates that no details of bond purchaser including KYC and other details will be entered in the core banking system. Thus, the details of the purchases of bonds are not available centrally; (b) The donor details and the recipient details are available in two separate silos: The details of the purchasers of Electoral Bonds were kept in a sealed cover at the designated branch. These sealed covers were deposited in the main branch of the SBI in Mumbai at the end of each phase of the issuance of the Electoral Bonds. The information on the redemption of Electoral Bonds (that is, the original bond and the pay-in slip) were stored in a sealed cover and sent to the SBI, Mumbai Branch; (c) Matching of information in the two silos is a time-consuming process: The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch. . Contributors who have an SBI account as well as those who do not have to submit the Electoral Bond application, KYC documentation and proof of payment through NEFT, cheque or demand draft. FAQ Question No. 19: I am not maintaining account with any Branch of State Bank of India. How can I purchase Electoral Bond? Purchaser not maintaining account with State Bank of India can purchase Electoral Bond through a. Cheque / DD drawn in favour of the Authorized SBI Branch and payable at the local Clearing House. Steps involved: i. Purchaser submits the Electoral Bond Application Form alongwith pay-in-slip, Citizenship KYC documents and Cheque/ DD at Authorized SBI Branch. The same need to be submitted at least three working days before the closure of the scheme, so that clear funds for issuance of Electoral Bonds, are available with the Authorized SBI Branch. In case of payment through DD, a confirmation letter from the DD issuance Branch on the prescribed format should also be provided. ii. The Cheque/ DD should be in favour of State Bank of India A/c Electoral Bond Scheme -2018 iii. Once the Citizenship and KYC documents are verified the instrument will be sent in clearing. Tear of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... June 2024 is dismissed. SBI is directed to disclose the details by the close of business hours on 12 March 2024. 14. ECI shall compile the information and publish the details on its official website no later than by 5 pm on 15 March 2024. 15. During the pendency of the proceedings before the Constitution Bench, ECI had, in compliance with the interim order passed by this Court, filed its statements which have been maintained in the custody of the Court. Copies of the statements which were filed by the ECI before this Court would be maintained in the Office of the ECI. ECI shall forthwith publish the details of the information which was supplied to this Court in pursuance of the interim orders on its official website. 16. The SBI shall file an affidavit of its Chairman and Managing Director upon compliance with the directions which have been issued above. We are not inclined to exercise the contempt jurisdiction at this stage bearing in mind the application which was submitted for extension of time. However, we place SBI on notice that this Court will be inclined to proceed against it for willful disobedience of the judgment if SBI does not comply with the directions of this Court a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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