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SC wants the government to control the misuse of electoral bonds | India News


NEW DELHI: The Supreme Court on Wednesday reserved its verdict on a petition to suspend the issuance of electoral bonds, scheduled for 10 days from April 1, even as the Election Commission said it supported the mechanism of donations to political parties but he wanted more transparency when revealing the identity of donors.
“We don’t know who has the solution to stop black money,” said a bank led by CJI Bobde, adding that it was concerned about anonymous donations through electoral bonds that political parties could misuse for disruptive activities. “Can the government consider devising a mechanism to verify the misuse of funds received through electoral bonds for illegal purposes?” Asked Attorney General KK Venugopal and Attorney General Tushar Mehta.
The court also made up of judges AS Bopanna and V Ramasubramanian reserved the order in a statement filed by an NGO after its lawyer Prashant Bhushan said that election bonds were a tool to inject black money into electoral politics. Bhushan said that the RBI and the EC had strongly opposed, arguing that this would increase the role of black money in elections.
However, Bhushan was countered by the CJI, which read the documents presented by the lawyer to say that RBI agreed to the election bonds if they were operated in demat format rather than as scrips. He asked Bhushan if he could explain the difference between demat and scrip, to which the lawyer expressed his inability.
However, Bhushan repeatedly said that election bonds would increase the role of black money in elections and that their issuance from April 1, before the assembly elections, should be suspended.
Venugopal said the government learned its lessons from the bad experience with bearer bonds. “Now then, all payments for the purchase of electoral bonds, which have a short useful life within which the political party must collect them, must be made by money order, checks or bank transfers, thus leaving the transaction open for scrutiny. . SC in its order of March 27, 2019 had requested all political parties to submit details of donations received through electoral bonds to the Election Commission in sealed cover. Therefore, there is little chance that black money it is used as donations to political parties, “he said. Mehta said that the election vouchers were not transferable and therefore one could not buy them or use them as a donation.
The EC, through leading advocate Rakesh Dwivedi, said: “The EC supports electoral bonds and is not opposed to them. Without electoral bonds, donations used to be made to political parties through cash, increasing the chances of use of black money in elections. However, the commission favors greater transparency and wants the name of the donors and the amount donated to be made public. ”

Times of India