Supreme Court to SBI: Don’t be selective, reveal all details by March 21

Tribune News Service

Satya Prakash

New Delhi, March 18

The Supreme Court on Monday ordered the State Bank of India (SBI) to stop being “selective” and disclose all “conceivable” details available with it regarding electoral bonds, including the alphanumeric number corresponding to each bond, by March 21.

The unique bond numbers would reveal the link between the buyers and the recipient political parties. “The SBI is required to make a complete disclosure of all details in its possession. This will also comprehend the alphanumeric number and serial number of the electoral bonds which were purchased and redeemed,” a five-judge Constitution Bench led by CJI DY Chandrachud said.

Complete bond disclosure

There is no manner of doubt that the SBI is required to make complete disclosure of all details, including bond numbers, which are in its possession. Let the SBI not be selective in disclosure. —Constitution Bench

“To fully effectuate the judgment and to obviate any controversy in the future, we direct that the chairman and managing director of the SBI shall file an affidavit on or before 5 pm on March 21, indicating that the bank has disclosed all details of electoral bonds in its possession and that no details have been withheld in terms of the directions given vide judgment dated February 15,” it ordered. The Bench directed the Election Commission to upload the details forthwith on receipt of the communication from the SBI. On behalf of the SBI, senior counsel Harish Salve said there was no reservation on part of the bank in disclosing all details in its possession. The Bench, however, refused to direct the disclosure of bond details from the first date of their issuance, i.e. March 1, 2018 to April 11, 2019 as demanded by a citizens’ group.

Not ordering disclosure of details prior to April 12, 2019 was a “conscious choice”, the SC said as it refused to entertain the contentions of ASSOCHAM and other industrial chambers against the disclosure of bond details on the ground of their plea not being listed.

The CJI said, “With effect from April 12, 2019, we had directed the collection of details. Everyone was put to notice at that time. This is why we did not ask for disclosure of bonds sold prior to the interim order. This was a conscious choice by the Constitution Bench.”

The Bench, which also included Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra, had on February 15 directed the SBI to furnish by March 6 details of electoral bonds sold so far to the Election Commission which shall make it public by March 13. On Monday, the top court refused to take note of SCBA president Adish C Agaarwala’s letter seeking suo motu review of its judgment on disclosure of bond details. “Apart from being a senior counsel, you are president of the SCBA. You have written a letter asking me to invoke my suo motu powers. These are all publicity related, we will not get into this. Do not make me say anything more. Mr Aggarwala, please keep it at that. Otherwise, I may have to say something more which may be a little distasteful,” the CJI told Aggarwala who attempted to mention his letter before the Bench.

On behalf of petitioner Association for Democratic Reforms, advocate Prashant Bhushan alleged barring a few, major political parties had not given donor details. On behalf of the Centre, Solicitor General Tushar Mehta alleged that the electoral bonds statistics were being twisted to suit an agenda and the court was being embarrassed in the process.

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#State Bank of India SBI #Supreme Court