SC refuses review of decision against confiscating funds received via electoral bonds

Following the top court’s judgement, the State Bank of India, the authorised financial institution under the scheme, shared the data with the Election Commission, which made it public.

The Supreme Court has dismissed a plea seeking the review of its decision against the petitions for confiscating ₹16,518 crore received by political parties under the 2018 electoral bond scheme.

A bench of Chief Justice Sanjiv Khanna and Justices J B Pardiwala and Manoj Misra dismissed the review plea filed by one Khem Singh Bhati against the top court’s decision of August 2, 2024. The apex court had then rejected the petition seeking confiscation of money received under the scheme.

The bench on March 26 held, “The review petition is dismissed in terms of the signed order. Pending application(s), if any, shall stand disposed of.” The top court’s order, made available recently, also refused to accept Bhati’s prayer for an open-court hearing in the matter.

A five-judge Constitution bench headed by former CJI D Y Chandrachud on February 15 last year scrapped the electoral bonds scheme of anonymous political funding introduced by the BJP government. Following the top court’s judgement, the State Bank of India, the authorised financial institution under the scheme, shared the data with the Election Commission, which made it public.

The electoral bonds scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of its efforts to bring in transparency in political funding.