An electoral bond is a financial instrument for making donations to political parties. According to the Electoral Bond Scheme, 2018, it is a bond issued in the nature of a promissory note, which shall be bearer in character. A bearer instrument is one which does not carry the name of the buyer or payee, no ownership information is recorded and the holder of the instrument (i.e. political party) is presumed to be its owner.
The scheme allows individuals, who are citizens of India, and domestic companies to donate these bonds — issued in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore — to political parties of their choice. The Supreme Court of India on February 15, 2024, struck down the electoral bonds scheme for anonymous funding to political parties as “unconstitutional”.
Is there anydifference SC in thatemergency period and present set up of SC? It is unfortunate that history repeating with more bad behaviour of our judicoary. Justice Shah said when judges are asked to toe the line of power that in, the judges went to the extent of Sastang PraNanam.
Fine column in IE by Shri Navroze Seervai today, following the one by Shri P B Mehta. The disquiet felt by ordinary citizens who may not be familiar with the differences between Articles 32 and 226 is bubbling up. The wise men and few women of the honourable apex court may be pleased to accept that this most respected / powerful public institution in the country is going through a period of exceptional stress. Something which recourse to the power to punish for contempt will not be able to exclude from widening circles of public discussion. Restrained, sober in the mainstream media, a little irreverent on social media, as happens in a genuine democracy. Retired Judges of the SC / HC are also speaking up with eloquence and passion.