ADR Files Contempt Petition Against SBI for Seeking Extension in Electoral Bonds Disclosure

 The Association for Democratic Reforms (ADR) has taken a bold step by filing a contempt petition against the State Bank of India (SBI) in the Supreme Court. This move comes in response to the SBI's request for an extension of time until June 30 to disclose details of each electoral bond encashed by different political parties, as reported by news agencies.

The controversy surrounding electoral bonds has been a contentious issue, with concerns raised about transparency and accountability in political funding. On February 15, the Supreme Court delivered a landmark verdict annulling the electoral bonds scheme for political funding. The court held that the scheme violated the Constitutional right to freedom of speech and expression, as well as the right to information.

In its verdict, the Supreme Court directed the SBI to provide details of electoral bonds to the Election Commission by March 6. However, the recent request by the SBI for an extension has sparked outrage and prompted ADR to take legal action. According to ADR, the SBI's actions constitute a willful and deliberate disobedience of the court's judgment, undermining the right to information of citizens and the authority of the Supreme Court.

The contempt petition filed by ADR underscores the importance of upholding the principles of transparency and accountability in political funding. Electoral bonds have long been criticized for allowing anonymous donations to political parties, potentially opening the door to corruption and undue influence. The Supreme Court's decision to annul the scheme was hailed as a significant step towards strengthening democratic processes and ensuring greater transparency in electoral financing.

However, the SBI's reluctance to comply with the court's directives raises concerns about the efficacy of legal mechanisms in enforcing accountability. The contempt petition serves as a reminder that the judiciary plays a crucial role in upholding the rule of law and safeguarding democratic principles.

As the legal battle unfolds, it remains to be seen how the Supreme Court will respond to the contempt petition and whether the SBI will be held accountable for its actions. In the meantime, civil society organizations like ADR continue to advocate for greater transparency and accountability in political funding, emphasizing the importance of robust mechanisms to prevent undue influence and corruption in the democratic process.