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Supreme Court agrees to hear plea challenging government notification

By FnF Correspondent | PUBLISHED: 14, Nov 2022, 17:44 pm IST | UPDATED: 18, Nov 2022, 18:18 pm IST

Supreme Court agrees to hear plea challenging government notification

New Delhi: Electoral Bonds Scheme: The Supreme Court of India today agreed to hear a fresh plea challenging the central government's notification related to the electoral bonds. A bench of Chief Justice of India DY Chandrachud and Justice JB Pardiwala said that it would list the matter for hearing. The plea is related to the government amending the electoral bonds scheme to allow their sale for 15 extra days during the year of general elections to the legislative assembly of States and Union territories with the legislature. 

The plea filed by Congress leader Jaya Thakur and was mentioned in the apex court by senior advocate Anoop George Chaudhary. The plea before the apex court said the notification is wholly illegal. The plea filed by Congress leader Jaya Thakur challenged the electoral bond scheme which allows for anonymous funding of political parties. 

An electoral bond is an instrument like a promissory note or bearer bond which can be purchased by any individual, company, firm or association of persons provided the person or body is a citizen of India or incorporated or established in India. The bonds are issued specifically to contribute funds to political parties.

The Ministry of Finance on November 7 issued a notification for amending the scheme to provide "an additional period of 15 days" for their sale "in the year of general elections to the Legislative Assembly of States and Union Territories with Legislature".

"An additional period of fifteen days shall be specified by the central government in the year of general elections to the legislative assembly of states and Union territories with the legislature," the gazette notification said.

The government notified the Electoral Bond Scheme in 2018. As per provisions, electoral bonds may be purchased by a person, who is a citizen of India or incorporated or established in India.

The statement also said a person being an individual could buy electoral bonds, either singly or jointly with other individuals.

The bonds under this scheme are usually made available for purchase by any person for ten days each in the months of January, April, July, and October, when specified by the Union government. The original scheme had provided for an additional period of thirty days, as specified by the government, in the year when Lok Sabha elections are held, while the amendment adds another 15 days.

Various petitions have already been pending before the top court challenging at least amendments made to different statutes through the Finance Act 2017 and Finance Act 2016 on the ground that they have opened doors to unlimited, unchecked funding of political parties.

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