Supreme Court to Hear PILs on Electoral Bonds Scheme

The Supreme Court is set to hear a public interest litigation aimed at investigating the electoral bonds scheme. The PIL, filed by NGOs Common Cause and CPIL, claims a quid pro quo between political parties and corporations. The plea seeks a probe into funding sources, alleging a 'money trail' in donations.

The Supreme Court is slated to examine a public interest litigation (PIL) on Monday, demanding a court-monitored probe into the electoral bonds scheme.

The hearing, conducted by a bench including Chief Justice D Y Chandrachud and Justices JB Pardiwala and Manoj Misra, will address PILs by NGOs Common Cause and the Centre for Public Interest Litigation (CPIL).

The PILs accuse political entities and corporations of engaging in an 'apparent quid pro quo.' The plea refers to the electoral bonds scheme as a 'scam' and calls for an investigation into the funding origins of shell and loss-making companies donating to political parties, according to Election Commission data.

The petition also demands the authorities reclaim money donated through 'quid pro quo arrangements' if confirmed as proceeds of crime. Previously, a Constitution bench on February 15 annulled the electoral bonds scheme, which was introduced in 2018 by the BJP government to promote transparency in political funding.

Subsequent to the ruling, the State Bank of India, the scheme's authorized financial institution, supplied data to the Election Commission, which was then made public. The plea asserts that unlike previous scams, the electoral bond issue has a definitive money trail, warranting court-monitored investigations and the appointment of special public prosecutors and courts for handling the case.

According to the petition, multiple firms under investigation have allegedly donated substantial funds to the ruling party, likely to sway ongoing probes.