{"id":31535,"date":"2018-10-27T14:35:34","date_gmt":"2018-10-27T09:05:34","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=31535"},"modified":"2018-10-27T14:35:34","modified_gmt":"2018-10-27T09:05:34","slug":"sc-admits-cpims-plea-against-electoral-bonds","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/sc-admits-cpims-plea-against-electoral-bonds\/","title":{"rendered":"SC admits CPI(M)\u2019s plea against electoral bonds"},"content":{"rendered":"

SC admits CPI(M)\u2019s plea against electoral bonds<\/a><\/strong><\/p>\n

Context<\/strong><\/p>\n

The Supreme Court on Friday admitted a petition filed by the CPI(M) and party general secretary Sitaram Yechury to strike down the government\u2019s Electoral Bond Scheme 2018 and amendments in the Finance Act, 2017, which allows for \u201cunlimited donations from individuals and foreign companies to\u00a0political parties\u00a0without any record of the sources of funding\u201d<\/p>\n

Plea says amendments made to Finance Act \u2018jeopardises the very foundation of Indian democracy\u2019<\/strong><\/p>\n

The petition said that the requirement of disclosure of electoral bonds, the names and addresses of their contributors in the account statement of political parties is omitted by the amendment to the Representation of the People Act of 1951.<\/p>\n

Corporate donations made secretive<\/strong><\/p>\n

Further, the petition said the system of corporate donations has been made correspondingly \u201csecretive by removing the requirement of disclosure of the names of political parties to whom contributions have been made by amendment to the Companies Act, 2003.\u201d<\/p>\n

Promoting Quid pro quo arrangements<\/strong><\/p>\n

In effect, at both ends of the transaction, neither the contributor nor the recipient of the fund is required to disclose the identity of the other… Quid pro quo arrangements, not unknown to Indian polity, will only be strengthened<\/p>\n

Removal of any ceiling on the donation amount<\/strong><\/p>\n