SC Upholds Verdict Against Confiscation of ₹16,518 Crore Electoral Bonds Funds
The Supreme Court has dismissed a review petition challenging its earlier ruling against the confiscation of ₹16,518 crore received by political parties through the now-scrapped electoral bonds scheme.
A bench comprising Chief Justice Sanjiv Khanna and Justices J B Pardiwala and Manoj Misra rejected the plea filed by Khem Singh Bhati, which sought a reversal of the apex court’s August 2, 2024 decision.
No Open-Court Hearing in Review Plea
📌 SC Order on March 26:
“The review petition is dismissed in terms of the signed order. Pending applications, if any, shall stand disposed of.”
The Supreme Court also denied the petitioner’s request for an open-court hearing, maintaining its stance on the issue.
Electoral Bonds Scheme: A Controversial Political Funding Model
🔹 Introduced: January 2, 2018, by the BJP government
🔹 Purpose: Aimed at reducing cash-based political donations and increasing transparency in political funding
🔹 Scrapped by SC: February 15, 2024, by a five-judge Constitution bench led by former Chief Justice D Y Chandrachud
SC’s Landmark Verdict on Electoral Bonds
On February 15, 2024, the Supreme Court struck down the electoral bonds scheme, calling it unconstitutional and violative of the right to information. The judgment led to the State Bank of India (SBI)—the scheme’s designated financial institution—releasing data on donations to the Election Commission of India (ECI), which later made it public.
Why Was the Confiscation Plea Rejected?
The plea sought to seize the ₹16,518 crore received by political parties under the electoral bonds scheme before its abolition. However, the Supreme Court refused to intervene, upholding its previous stance that the funds, though received through an unconstitutional scheme, were legally acquired at the time.
Conclusion
With the dismissal of the review plea, the Supreme Court has put an end to legal challenges seeking fund confiscation under the electoral bonds scheme. However, the larger debate on political funding transparency and the impact of electoral bonds remains a key issue in India’s electoral landscape.
