Electoral bonds : SC issues notice to Centre challenging decision
New Delhi, Feb 2 (IBNS) : The Supreme Court on Friday issued a notice to the centre on a plea of the CPI (M) challenging introduction of electoral bonds in elections, reports said.
A bench of Chief Justice Dipak Misra and Justices A M Khanvilkar and DY Chandrachud agreed to examine the plea to quash the Government decision.
The NDA Government had, in the previous budget, decided to bring electoral bonds to be issued by any scheduled bank. It claimed that the measure will clean up political funding in India.
The move was made in the face of stiff opposition from the political parties.
The EC had also initially referred to the move as a "retrogade step".
However, submitting a petition in the Supreme Court, CPI (M) General Secretary Sitaram Yechury demanded that the move be scrapped as it lacks transparency. It said if the practice is put into force only the Corporate and the Government will know about the funds transferred.
The party demanded that the Government rather designate an institution like the Election Commission of India, to which corporates can donate funds, and which can then be monitored by the EC.
Yechury said the party had sought amendments to the bill when the Government had moved the proposal for its introduction in Parliament.
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