The petitioners, relying on the source and data revealed by the Election Commission (EC), alleged before the top court that they suspect an arranged exchange of services or favours between the involved parties.The apex court’s three-judge bench, while taking note of Bhushan’s submissions, said it would take up the matter on July 22, Monday. It said it would also take up another pending matter on the same issue on Monday.In a landmark judgment, the Supreme Court on February 15 this year held that the Electoral Bonds Scheme was unconstitutional and directed banks to stop issuing bonds immediately.”The Union has been unable to establish that the measure adopted in clause 7(4)(1) of the Electoral Bonds Scheme is the least restrictive measure,” a five-judge bench of the top court, headed by CJI Chandrachud, said in the order.The top court also declared that the amendments to the Income Tax Act provisions and Section 29-C of the Representation of the People (RP) Act are ultra vires.The CJI said that the amendment to the Companies Act (allowing blanket corporate political funding) is unconstitutional.The apex court, in its verdict, directed the SBI to stop issuing Electoral Bonds immediately and to disclose and submit all the details to the Election Commission by March 6.The EC will make all donations public within one week of receiving the information. All EBs within the 15-day validity period shall be returned by political parties to the purchasers, the top court said in its verdict.”Lack of privacy of political affiliation would be catastrophic. It can be used to disenfranchise voters. The right to informational privacy extends to financial contributions to political parties,” the bench of the apex court said.The apex court had reserved the case in November 2023.The EB scheme was challenged before the top court by the Association for Democratic Reforms (ADR), the Communist Party of India (Marxist), Congress leader Jaya Thakur, Spandan Biswal, and others.
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