Electoral Bond issue: India’s largest bank in trouble; SC pulled up SBI
Kanwar Inder Singh/ royalpatiala.in News/ March 11,2024
In a latest development on electoral bond issues, the Supreme Court on Monday dismissed the State Bank of India’s petition seeking an extension of time till June 30 to disclose details on electoral bonds.
Pulling up the SBI for “wilful disobedience”, the Supreme Court asked the bank to disclose the details by the close of business hours on March 12.
“We have not told you to match the details. We have only asked you for a plain disclosure. You simply comply with the judgment,” Chief Justice D.Y. Chandrachud told the SBI. The bank said, “We have to reverse the whole process”.
The Supreme Court chose not to exercise its contempt jurisdiction as of now. But the bank is put on notice, and will face action of it does not comply with today’s directions, the CJI said. The development comes just weeks ahead of Lok Sabha elections.
Electoral Bond issue: India’s largest bank in trouble; SC pulled up SBI. A bench of Chief Justice DY Chandrachud, and Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra was hearing SBI’s application for an extension of the deadline, along with contempt petitions filed by Association for Democratic Reforms (ADR), Common Cause, and the Communist Party of India (Marxist) against the public sector bank over its non-disclosure of vital details related to electoral bonds despite the Supreme Court’s directives to that effect.
