SBI disclosure will alter political dynamics of LS polls: Moily on electoral bonds issue

Senior Congress leader and former law minister M Veerappa Moily on Monday hailed the Supreme Court's dismissal of SBI's plea seeking an extension of time to disclose the details of electoral bonds, and claimed the present disclosure will alter the political dynamics of the 2024 Lok Sabha elections.

Rejecting the State Bank of India's plea seeking the extension, a five-judge Constitution bench headed by Chief Justice D Y Chandrachud ordered the bank to disclose the details to the Election Commission by close of business hours on March 12. It also directed the poll authority to publish the details on March 15.

In a statement, Moily hailed the apex court's judgment as ''path breaking'' and ''one of the greatest milestones in the voyage of judicial march after independence''.

''I salute the judiciary led by Chief Justice of India D Y Chandrachud for upholding the rule of law in this country and also telling SBI and the government of India that we expect a degree of candour from the State Bank of India,'' he said.

The government or any authority should stop taking the judiciary for granted and not suppress truth and transparency, Moily said.

''The pronouncement of today is a clear direction to the authorities concerned that truth cannot be suppressed by the act of Parliament and the present disclosure will alter the political dynamics of 2024 elections and open up a pandora's box,'' he said.

The strong message of the Supreme Court is likely to alter the course of events in the coming days, he claimed.

''As a law minister of the nation, I had moved for revolutionary changes in the electoral law after getting the national consensus and such reforms and bills have been tampered upon by the present regime,'' Moily said.