Supreme Court Rejects SBI Extension Plea Over Electoral Bonds

 The Supreme Court of India on Monday (11.3.2024) rejected State Bank of India’s (SBI’s) request for extension of time till June 30 to disclose information on purchase and redemption of electoral bonds to the Election Commission of India (ECI), and said  That the details be submitted before the end of working hours on March 12.

Chief Justice of India, D.Y. A five-judge bench headed by Justice Chandrachud, which on February 15 had struck down the electoral bond scheme as unconstitutional, also asked the bank to give complete details of the bonds purchased from April 12, 2019 to February 15, 2024.  The bank was given a deadline of March 6 to share all the information about when, who donated to whom, and how much, but just two days before the deadline, the bank sought an extension of time until June 30 to provide the details to the ECI.

The Supreme Court, in its order dated today, i.e., March 11, had also warned SBI that if the information about electoral bonds was not given before the close of business hours on March 12, it would initiate contempt proceedings against it.

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