Contempt plea filed against SBI for disobeying Supreme Court order on Electoral Bonds disclosure

The Association for Democratic Reforms (ADR) has filed a contempt plea against the State Bank of India (SBI) for failing to submit details of electoral bonds (EBs) purchased since April 12, 2019, to the Election Commission of India (ECI). ADR approached the Supreme Court seeking contempt action against SBI for disregarding the court's directive.

ADR seeks Court intervention

ADR, a non-profit organization, brought the matter before Chief Justice of India Dhananjaya Y Chandrachud, requesting a hearing on March 11. Advocate Prashant Bhushan, representing ADR, urged the court to initiate contempt proceedings against SBI for missing the court-imposed deadline.

Chief Justice Chandrachud, who previously presided over the electoral bonds case, acknowledged ADR's plea. He stated that the contempt plea would be considered alongside SBI's application for an extension of time until June 30, provided that the petition adheres to proper verification procedures.

SBI's request for extension

On March 4, SBI filed a plea seeking an extension until June 30, citing the complexity of decoding data and matching donors to donations. SBI argued that retrieving and cross-referencing information from separate data silos would be a time-consuming process, emphasizing the need for more time to comply with the court's order.

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The delay in disclosing electoral bond details has sparked debate over transparency in political funding. ADR criticized SBI's extension request, labeling it as an attempt to hinder transparency efforts before the upcoming Lok Sabha elections. ADR asserted that SBI possesses the necessary infrastructure to compile and disclose EB information promptly.

SBI's explanation

SBI defended its stance, explaining the intricate process involved in matching donor details due to the anonymity measures in the 2018 electoral bond scheme. The bank highlighted challenges in retrieving and cross-referencing data stored in separate physical and digital silos, arguing that the court's three-week timeline was insufficient for completion.

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With ADR's contempt plea and SBI's extension request pending before the court, the matter remains unresolved. The court's decision will determine the course of action regarding the disclosure of electoral bond details and uphold transparency in political financing.