June 23, 2021

Plea Seeking Stay On Electoral Bonds- Live Updates From Supreme Court

first_imgTop StoriesPlea Seeking Stay On Electoral Bonds- Live Updates From Supreme Court LIVELAW NEWS NETWORK23 March 2021 10:54 PMShare This – xCrucial hearing in the electoral bonds case in the Supreme Court.A bench led by CJI to is hearing made by ADR seeking stay of fresh release of electoral bonds ahead of polls in WB, Kerala, Assam…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginCrucial hearing in the electoral bonds case in the Supreme Court.A bench led by CJI to is hearing made by ADR seeking stay of fresh release of electoral bonds ahead of polls in WB, Kerala, Assam etc.Live Updates 23 March 2021 11:47 PMECI’s counsel Rakesh Dwivedi : Election Commission is supporting electoral bonds and not opposing it as such. Without electoral bonds, we will go back to earlier cash system, which was unaccounted. Bonds is one step forward, as all transactions are through banking channels.ECI’s counsel Rakesh Dwivedi : But on the second aspect transparency, we want transparency. But that is a matter for final hearing. We are against stay of electoral bonds as then we will go back to the unacccounted cash system.Bench reserves orders on the application for stay of electoral bonds.23 March 2021 11:41 PMCJI : Mr Attorney, we are not sure of what we are saying. But this angle of possibility of funding of terrorism through funding needs to be examined. It is possible that funds through this mechanism are diverted by particular people for other purposes with an agendaCJI : You can start a protest, with this funding. You can start many things.AG : We will look into this. Blackmoney is an issue.Bhushan : This (bonds) will not stop blackmoney.23 March 2021 11:41 PMBhushan : Earlier, the law was that only donations less than Rs 20,000 can be kept undisclosed.CJI : They have removed the 7.5 % cap as well.Bhushan : Yes, and now foreign companies can also donate.23 March 2021 11:39 PMBhushan refers to ECI affidavit – ECI had proposed in 2004 compulsory maintenance of accounts and audit of political fundings.Bhushan : ECI has recommended disclosure of donors of parties.Bhushan : ECI has comprehensively pointed out that in order to maintain purity of election process, complete transparency in political funding. This(bonds) is driving a coach through transparency.23 March 2021 11:33 PMBhushan : Mere fact that the scheme says that the bonds are not for trading does not mean anything, as there is anonymity involved at every levels.CJI : Is it not true for currency? People trade in money.23 March 2021 11:32 PMCJI : We will close the case for orders.Bhushan : I want to say something in rejoinder.23 March 2021 11:32 PMSr Adv Rakesh Dwivedi says that information is kept in sealed covers.CJI : Have you received from all parties?Dwivedi : That I need to get instructions. All major parties have given23 March 2021 11:30 PMCJI : Mr Bhushan says that the earlier order (April 2019) has not been complied. He has said it orally. We have not seen papers.Bhushan : ECI should be able to say.23 March 2021 11:30 PMSG adds that bonds are purchased following KYC orders.23 March 2021 11:30 PMAG : Even the Congress party did not file. It was after SC judgment that all started filing. So now question of such misuse cannot arise. They have to file returns.>Load MoreNext Storylast_img

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