Electoral Bonds Saga: Will SC provide more time to SBI? All set to hear the plea today

All eyes will be on the top court as the Supreme Court of India is all set to hear the plea of the State Bank of India (SBI) on March 11 seeking an extension of time until June 30 to submit details of electoral bonds to the Election Commission of India. Notably, the electoral bonds scheme was scrapped by the top court last month.

According to the information, a five-judge Constitution Bench led by Chief Justice of India DY Chandrachud will hear the matter on Monday. The Constitution Bench will also hear the Association for Democratic Reforms (ADR) contempt petition too.

Notably, the court directed SBI to furnish all the details on the website by March 13, but seeking the extension, on March 4, the bank moved a petition for the extension till June 30. 

The Supreme Court has received a contempt suit from the Association for Democratic Reforms (ADR) accusing the State Bank of India of failing to provide the Election Commission with information regarding electoral bonds.

ADR attorney Prashant Bhushan informed the top court that the State Bank of India had submitted an application for an extension, which is anticipated to be listed on Monday, and brought up the case before a bench chaired by Chief Justice of India DY Chandrachud on Thursday.

Subsequently, the NGOs Association for Democratic Reforms and Common Cause filed a supplementary plea with the court, requesting the start of contempt proceedings against the bank for allegedly violating the ruling of the top court.

According to the contempt plea, the SBI purposefully filed its application at the last minute to prevent donor information and donation amounts from being made public before the upcoming Lok Sabha elections in 2024.

The argument argued that electoral bonds are "completely traceable," citing SBI's secret number-based database that tracks bond purchasers' contributions to political parties.