The State Bank of India (SBI) submitted data related to electoral bonds to the Election Commission of India on Tuesday evening. This action comes after the Supreme Court’s strict order directing the bank to disclose the information. The Election Commission will now process and release the data by Friday, March 13th, adhering to the court’s timeline.
Supreme Court Rejects Extension Plea and Warns of Contempt
Earlier, SBI, the country’s largest lender, requested an extension of the deadline to release the data. However, the Supreme Court, led by Chief Justice D.Y. Chandrachud, firmly rejected the plea and expressed strong disapproval of the bank’s attempt to delay the process. The court warned SBI of potential contempt proceedings for “willful disobedience” if it failed to comply with the set deadlines.
SBI’s Argument and Court’s Response
SBI argued that collecting, verifying, and releasing the data, stored in separate sections to ensure confidentiality, would require significant time. The bank requested an extension until June 30th, claiming the information needed to be kept confidential.
The Supreme Court countered this argument by highlighting that donor details were already accessible at SBI’s Mumbai branch. The court emphasized that the bank simply needed to “open envelopes, compile details, and provide the information.” Chief Justice Chandrachud clarified, “We did not ask you to perform a matching exercise. We requested a straightforward disclosure.”
Landmark Verdict and Disclosure Requirements
Last month, the Supreme Court delivered a landmark judgment, declaring the electoral bond scheme “unconstitutional” as it infringed upon citizens’ right to information. The court directed SBI to disclose the data by March 6th and the Election Commission to make the information public by March 13th.