In a historic verdict barely weeks before the Lok Sabha polls are set to be notified, the Supreme Court (SC) struck down Thursday the Narendra Modi government’s 2018 electoral bonds scheme of anonymous political funding.
Highlighting that “the information about funding to a political party is essential for a voter to exercise their freedom to vote in an effective manner”, a five-judge Constitution bench, headed by Chief Justice of India D. Y. Chandrachud, said that changes made in the laws to implement the scheme were unconstitutional.
Upholding Democratic Principles
The court emphasized that voters need information about funding to political parties to exercise their freedom to vote effectively. The scheme was found to violate constitutional rights to freedom of speech and expression and the right to information.
In its two separate but unanimous verdicts spanning 232 pages, the court also directed the State Bank of India (SBI), the authorized financial institution under the scheme, to submit by March 6 the details of electoral bonds purchased since April 12, 2019, till date to the Election Commission (EC) which will publish the information on its official website by March 13.
Directives for Greater Accountability
The court’s directives aimed at increasing transparency in political financing, requiring the disclosure of electoral bond details and the refund of unused bonds, underline the importance of accountability in the electoral process.
On April 12, 2019, the SC, in an interim order, asked political parties to submit details of donations via electoral bonds to the EC in a sealed cover to be kept in the safe custody of the commission till further orders.
The SC also directed that electoral bonds that are within the validity period of 15 days but have not been encashed by political parties shall be returned by the political party or the purchaser — depending on who is in possession of the bond — to the issuing bank which shall refund the amount to the purchaser’s account.
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Striking Down Amendments
The bench struck down a set of amendments related to the scheme, deeming them violative of Article 19(1)(a) and unconstitutional.
This included provisions in the Representation of the People Act, the Companies Act, and the Income Tax Act, which permitted non-disclosure of financial contributions received through electoral bonds and unlimited corporate funding to political parties.
Flaws in the Scheme
The court highlighted the flaws in the scheme, noting that it does not adequately address concerns about black money and does not satisfy the least restrictive test necessary for imposing curbs on the right to information.
Moreover, the scheme was criticized for enabling politically influential individuals and corporations to maintain selective anonymity while contributing to political parties.
The verdict represents a significant victory for democracy, reaffirming the importance of transparency and accountability in political financing.
By striking down the electoral bonds scheme, the Supreme Court has taken a significant step towards ensuring fair and transparent elections in India. This landmark judgment underscores the need for comprehensive reforms to strengthen the foundations of Indian democracy.
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Feature image designed by Saudamini Seth
Sources: The Hindu, India Today, The Indian Express
Find the blogger: Pragya Damani
This post is tagged under: Supreme Court, Electoral Bonds Scheme, Transparency, Political Funding, Constitutional Rights, Accountability, Democracy, Indian Politics, Legal Verdict, Election Commission, Financial Disclosure, Amendments, Black Money, Right to Information, Corporate Funding, Judicial Reform
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QUESTION IS – HOW CAN IN LA-LA BANANA REPUBLIC OF HINDOOSTHAN – COULD SUCH A LAW BE PASSED ?
NETAS IN LOK SABHA ARE ILLITERATE SCUM ! THEY WILL PASS ANY LAW !
COMPANIES ACT HAS LIMITS ON LOANS,INVESTMENTS,DONATIONS – BUT NOT ON EB ! HOW COULD SUCH A LAW BE PASSED ?
INDIAN LAWS HAVE NO SANCTITY AS THEY ARE PASSED BY CHORS AND ILLITERATES ! THEY WILL PASS ANY LAW !
THEREFORE,INDIAN LAWS SHOULD NOT BE FOLLOWED ! THEY ARE GARBAGE !
IF EB NAMES ARE DISCLOSED – THEN SO SHOULD THE NAMES OF THE DONORS, AT ALL HINDOO TEMPLES IN CASH AND IN KIND ! dindoooohindoo
ONLY A FOOL WILL THINK THAT NON CASH PAYMENT FOR EB BONDS KEEPS NAME OF DONORS SECRET ! THE BONDS HAVE AN INVISIBLE CODE LIKE ON THE US 100 USD LINCOLN BILL !
DISCLOSING NAME OF BUYER OF EB IS OF NO USE !
A BUYS EB OF 1000 CRORES AND DISCLOSES HIS NAME AND GIVES BOND TO BJP
BUT A WAS PAID RS 1100 CRORES, IN CASH, BY B, TO BUY THE BONDS !
SOLUTION IS TO STATE FUNDING OF “ALL PARTIES”,WITH 0.1% PER CENT VOTE SHARE ! dindooohindoo
BOOK OF GENESIS PART 1
VERSE 1 – WHY WAS EB STARTED ?
NOT TO STOP BLACK MOENY ! 20000 OR EVEN 2000000 CRORES IS A TADPOLE IN A SEA !
AS I SAID `- BUYER OF EB IS A SHELL COMPANY !
EB IS A BEARER NBOND AND THEN THAT BOND IS GIVEN TO ADA – WHO GIVES IT TO BJP WHO ENCASHES IN IN 2 WEEKS ! ADA IS ON RECORDS ! END OF STORY !
SO THIS IS ALL BULLSHIT !
THE REAL REASONS ARE 2 !
1- BANIA JAIN PANDIT PARTY – BJP – WANTED TO GIVE A TAX REBATE ON A BRIBE ! SO CAME THIS SCHEME !
ADA GIVES RS 10000 CRORES TO BJP ! ADA USES A SHELL COMPANY WITH A LOSS IN INDIA TO BUY THE BREARR BONDS ! NOW THAT SHELL COMPANY HAS RS 10000 CRORES TAX ASSESSED LOSS. THE SHELL GIVES THE BOND TO BJP AND BJ ENCASHES THE SAME.
AFTER 3 YEARS ADA ACQUIRES THE SHELL AND SETS OFF THE TAX LOSS – SO A GAIN OF RS 3000 CRORES !
THE 2ND REASON !
BANIA SCUM PARTY REALISED IN 2018 THAT THE DAYS OF USING BHANG AND MOON SHINE TO BUY VOTES ARE OVER ! NOW YOU NEED A MEDIA PROPOGANDA BLITZ ! FOR THAT YOU NEED BILLIONS IN USD ! IN WHITE !
AS CEC WILL CHECK THE NEWS ADVERTS AND ASK THE MEDIA FOR THR SOURCE OF FUNDS ! FOR BANIA BJP TO PAY BANIA ZEE – BANIO BJP NEEDS WHITE MONEY ! BUT THE BJP WANTS A SCHEME WHERE THE WHITE MONEY COMES ONLY TO BJP -SO THEY CHOOSE SBI WHICH REPORTS CONGRESS FUNDINGG TO BJP – AND TEHN BJP SENDS THE ED AND DRI !~
SO CONRESS HAS NO MEDIA POWER ! CONGI USES SOCIAL MEDIA – WHCIH IS USELESS !
NOW COMES THE POLL RALLIES ! FOR THAT CASH IS REQUIRED NOT WHITE MONEY ! THERE CHAIWALA USED DEMO TO WIPE OUT THE CASH AND WILL SCRAP THE RS 2000 NOTE SOON !
—————————————————————————————————–
BUT THE MOST IMPORTANT REASON WHICH EVEN THE JUDGES OF HE APEX COURT MISSED – AS THEY DO NOT KNOW THE VERMINS THAT EXIST IN THE BJP !
ADA USES A LOSS MAKING SHELL ,TO BUY 10000 CRORES BONDS .SHELL COMPANT GIVES BONDS TO ADA WHO GIVES IT TO BJP
NOW THE BIONDS ARE ENCASHED BY BJP
ADA BUYS SHELL IN MERGER,AFTER 2 YEARS ,AND SO,CLAIMS THE TAX REBATE,ON RS 10000 CRORES
NOW BJP NEEDS 7000 CRORES IN WHIITE,AND CASH IN BLACK, OF RS 3500 CRORES FOR 2024 POLLS
SO BJP USES THE EXCESS OF RS 3000 CRORES IN EB (IN WHITE), TO CONVERT THE RS 3500 CRORES IN BLACK INTO WHITE !
SO BJP GIVES THE RS 3500 CRORES IN CASH TO ADA FOR THE EXCESSS RS 3000 CRORES OF EB (AND BJP KEEPS THE EXCESS RS 3000 CRORES)
BIP HAS WASHED ITS CASH AT THE RATE OF 12% – AND ADA WILL COMVERT THE RS 3500 CRORES INTO WHTE AT NIL COST USING HIS “AGRI BUSINESS”,AND THEN,REPEAT THE EB AGAIN AND AGAIN !
SO ADA PAYS 10000 CRORES – GETS TAX GAIN OF 3000 CRORES + 3500 CRORES IN CASH !
WIN WIN ! FOR BJP AND ADA ! THE BALANCE 3500 CRORES , ADA WILL DO 1O MORE CHURNS OF EB TO RECOVER RS 3500 CRORES ! SO ADA MAKES 3000 CRORES TAX GAIN OR NIL NET INVESTMENT !
HOW DID THE SHELL GET 10000 CRORES ? FROM A MAURITIUS FUND AS A SHARE CAPITAL “ENTRY” ! WHO OWNS THE FUND ? THE “REAL OWNER”
VEDIC MATHS !
THAT IS THE GAME ! REAL GAME !
THAT IS Y FOR MUSLMS – PARTITION IS THE SOLUTION ! HINDOO BANIA BRAHMIN IS SCUM AND EVIL ! A MUSLIM CANNOT PLACE HIS LIFE IN THE HANDS OF THESE SCUM !
PARTITION IS THE ONLY SOLUTION !
[…] What Are Electoral Bonds And Why Is The SC Judgement Against… […]
Besides the SC judgement on transparency and accountability,the issue is a matter of public interest,as this is the 1st time since WW1,that a nation has made a law which hides and promotes corruption and money laundering. In the Demo scheme,the depositor of funds,was accountable to revenue,for source (Although not 1 cent of tax was recouped). In any Indian IDS,there was a tax.The worst IDS in the world,was in Indonesiah where 50 Billion USD was declared at 5% tax (Is this a Muslim Nation ?)
In this nation,the EB Scheme,has a negative tax,and is pure money laundering,and thus,the information is in public interest.That the Companies Act,was amended is irrelevant,as even if a special resolution was needed with 99.09% votes,the bond buyer,would have ARRANGED it.
THE KAHUNA IN THE EB SCHEME IS NOT THE CHANGES TO THE COMPANIES ACT – IT IS THE “BEARER BONDS”.WHY NOT DIGITAL DEMAT BONDS WITH CDSL – IN THE AGE OF DIGITAL INDIA,WHICH LANDED ON THE MOON ?
THE EB SCHEME PROVES THAT THE INDIAN BUREAUCRATS AND NETAS,CAN PASS LAWS WHICH NOT ONLY VIOLATE THE CONSTITUTION, BUT ARE AGAINST BASIC CANONS OF MORALITY AND ETHICS,AND PROMOTE MONEY LAUNDERING AND CORRUPTION.IN OTHER WORDS,THE ENTIRE ARCHITECTURE IS CORRUPTED AND HAS A PRICE,AND COUNTS FOR NOTHING, AS DECISIONS ARE MADE BY A FEW, and every one in the Indian State has a price !
CASE 1
A NON-TAX EXEMPTED TRUST BUYS BONDS WORTH 100 CRORES,AND TRANSFERS IT TO POLITICAL PARTY X
THE TRUST HAS A BALANCE SHEET OF 120 CRORES AND BANK FUNDS OF 100 CRORES,DULY AUDITED.
PERSON “ZEE” PAYS 120 CRORES IN CASH TO TRUSTEES OF EXEMPTED TRUST.TRUSTEES HAVE FOR A FEE OF RS 20 CRORES,BOOKED A
DONATION OF RS 100 CRORES WHICH IS NOW A TAX ASSESSED LOSS
PERSON ZEE IS A BROKER,DRUG DEALER,PIMP, ARMS DEALER ETC.
THE TRUST WILL BRING IN THE CASH OF 100 CRORES INTO THE TRUST AT 15% PER ANNUM AS FEES,DONATIONS,RENTS, ADVERTISEMENTS ETC. AND OFFSET THE INCOME WITH THE TAX LOSS OF DONATION PAID
IS THIS IN NATIONAL INTEREST
CASE 2
A TAX EXEMPTED TRUST BUYS BONDS WORTH 100 CRORES AND TRANSFERS IT TO POLITICAL PARTY X
THE TRUST HAS A BALANCE SHEET OF 1200 CRORES AND BANK FUNDS OF 1000 CRORES,DULY AUDITED.
PERSON “ZEE” PAYS 120 CRORES IN CASH TO TRUSTEES OF EXEMPTED TRUST.TRUSTEES HAVE FOR A FEE OF RS 20 CRORES,BOOKED A
DONATION OF RS 100 CRORES
PERSON ZEE IS A BROKER,DRUG DEALER,PIMP, ARMS DEALER ETC.
THE TRUST WILL BRING IN THE CASH OF 100 CRORES INTO THE TRUST AT 35% PER ANNUM AS DONATIONS FOR GYANVAPI TEMPLE AS THE TRUST IS A TEMPLE OR WILL BOOK CASH DONATIONS RECEIVED,TO PROPAGATE HINDOO EVIL FILTH
IS THIS IN NATIONAL INTEREST
CASE 3
A TRUST BUYS ELECTORAL BEARER BONDS WORTH 100 CRORES FROM A PERSON, S, AT A 102 CRORES. SO THE TRUST IS OUT OF THE KYC TRAP OF SBI AND SBI HAS NO RECORD OF THE BOND
THE TRUST HAS A BALANCE SHEET OF 1200 CRORES AND BANK FUNDS OF 1000 CRORES,DULY AUDITED.
THE TRUST TRANSFERS IT TO POLITICAL PARTY X
PERSON “ZEE” PAYS 120 CRORES IN CASH TO TRUSTEES OF EXEMPTED TRUST.TRUSTEES HAVE FOR A FEE OF RS 18 CRORES,BOOKED A
DONATION OF RS 100 CRORES
PERSON ZEE IS A BROKER,DRUG DEALER,PIMP, ARMS DEALER ETC.
THE TRUST WILL BRING IN THE CASH OF 100 CRORES INTO THE TRUST VIA AS MANY WAYS AS IT FEELS
OR
THE TRUST WILL DO “ENTRIES OF INCOME” WHERE IT BOOK INCOME AS RENTS ETC, FROM PARTY D OF SAY 100 CRORES,AND THE TRUST WILL BE PAID
A 10% PREMIUM,AS THE TRUST IS TAKING IN INCOME WHICH IT WILL OFFSET WITH THE DONATION TAX LOSS,AND “D” WIL CLAIM A 30% TAX SET OFF
ON THE RENT SO BOOKED
OR
THE TRUST WILL DO “ENTRIES OF INCOME” WHERE IT BOOK INCOME AS DONATIONS RECEIVED ETC, FROM PARTY D OF SAY 10 CRORES,AND THE TRUST WILL PAY “D” A 3-5 % PREMIUM,IN CASH,WHICH IS PAID FROM THE CASH PAID BY “ZEE”ABOVE.THE PERSON “D” WILL GET A TAX OFFSET ON THE DONATION PAID
IS THIS IN NATIONAL INTEREST
CASE 4
THE TRUST IN CASE 1 TO 3,CANNOT JUSTIFY A DONATION OF 100 CRORES TO PARTY X
SO COMPANY Y BUYS THE BEARER BONDS OF 100 CRORES FOR 102 CRORES, by cheque
TRUST HAS A “HAPPY PROFIT” OF RS 2 CRORES,in the books
COMPANY Y HAS EVADED THE SBI KYC AND THE CHAIN FROM COMPANY Y TO THE ULTIMATE POLITICAL PARTY IS UNKNOWN
CASE 5
COMPANY A HAS A BALANCE SHEET OF 20 CRORES
IT TAKES A LOAN OF 100 CRORES FROM COMPANY T AND BUYS THE EB AND THEN GIVES IT TO T
COMPANY A NOW HAS A NEGATIVE EQUITY OF RS 80 CRORES PLUS INTEREST ON LOAN FROM T
TRANSACTION HAPPENED IN 2017,AND IN 3 MONTHS THE COMPANY A, IS LIQUIDATED,AND ALL THE DIRECTORS ARE DEAD,AS THEY WERE
TERMINAL ZOMBIES.COMPANY A,WAS FORMED 3 MONTHS BEFORE,THE EB PURCHASE
TERMINAL ZOMBIES ARE DIRECTORS HIRED WITH A EXPIRY LIFE OF 2-3 MONTHS,ON WHOM KEYMAN POLICIES ARE ALSO TAKEN
OR
IN 2018,COMPANY T ACQUIRES A,AND OFFSETS THE DONATION LOSS WITH ITS BOOKS,AND NOW,HAS A TAX ASSESSED LOSS,OF SAY 100 CRORES.
FROM 2018 TO 2024 JANUARY,THE COMPANY T,HAS TAKEN “INCOME ENTRIES” OF RS 100 CRORES AND HAS CHARGED A SERVICE FEES OF 10% OR
RS 10 CRORES,
BY APRIL 2024 ,COMPANY T WILL BE LIQUIDATED AND ALL PAPER RECORDS,WILL DISAPPEAR OR SET ON FIRE AND BY JUNE 2024, ALL THE DIRECTORS WILL
BE DEAD AS THEY WERE ALSO TERMINAL ZOMBIES
CASE 6
CASE 1 AND 2 WILL ALSO,APPLY TO INDIAN COMPANIES.
NO FOREIGN COMPANY OR FOREIGN INCORPORATED ENTITY,WILL BE FOOLISH TO REGISTER WITH SBI
CASE 7
IN ALL THE CASES 1 TO 6,AFTER THE ORIGINAL EB BUYER,SELLS THE BOND IN CASH,TO PERSON SAY “ZEE”,THERE IS A CHAIN OF BOND TRADERS AND “TRANSPORTERS’,IN CASH, WHO ROTATE CASH (FROM BLACK MONEY,DRUGS ETC),FOR A FEE,AND DELIVER IT AT DIFFERENT GEOGRAPHIES OF POLITICAL PARTIES,SO THAT BOND REDEMPTION REQUESTS ARE NOT BUNCHED AT A GEOGRAPHY
ALL THE PLAYERS IN THE ABOVE CASES,ARE “BANIAS” (WHO I BELIEBVE SHOULD BE XTERMINATED) dindooohindoo
IN THE “SELECTED WORKS OF AMBEDKAR” (WHICH IS ON THE MEA PORTAL),AMBEDKAR DESCRIBES BANIAS,AS UNDER:
The Bania is the worst parasitic class known to history. In him the vice of money-making is unredeemed by culture or conscience. He is like an undertaker who prospers when there is an epidemic. The only difference between the undertaker and the Bania is that the undertaker does not create an epidemic while the Bania does. He does not use his money for productive purposes. He uses it to create poverty and more poverty by lending money for unproductive purposes.
INDIA IS BEING RUN BY BY BANIAS AS OF TODAY,WHO CLAIM TO REPRESENT HINDOO PRIDE
Ambedkar, in his historic speech in Nagpur on October 15, 1956, a day after he had embraced Buddhism, said, “Even though I was born in the Hindu religion, I will not die in the Hindu religion. This oath I made earlier; yesterday, I proved it true. I am happy; I am ecstatic! I have left hell — this is how I feel. I do not want any blind follower