Electoral Bonds Verdict: Sibal In Conversation With J. Lokur, S.Y.Quraishi, Dr. Subramanian Swamy
Live Law・36 minutes read
The Supreme Court has declared electoral bonds unconstitutional, highlighting transparency issues, concerns about the influence of money in politics, and the need for reforms to level the playing field and ensure accountability in political funding. Calls have been made for banning private donations, state-funded elections, capping political party expenditures, and establishing measures to audit party accounts and prevent misuse of funds, aiming to address the challenges posed by the current system.
Insights
- Supreme Court declared Electoral bonds scheme unconstitutional, emphasizing right to information violation due to lack of transparency in political funding.
- Concerns raised about non-level playing field with BJP amassing 6,566 crores through Electoral bonds, highlighting challenges in funding elections within set limits and proposing solutions like banning private donations and state-funded elections.
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Recent questions
What is the issue with Electoral bonds?
The issue with Electoral bonds is the lack of transparency in political funding, leading to concerns about a non-level playing field and potential corruption.
Why did the Supreme Court declare the Electoral bonds scheme unconstitutional?
The Supreme Court declared the Electoral bonds scheme unconstitutional due to violations of the right to information and lack of transparency in political funding, which could lead to corruption and unfair practices in elections.
How much money did BJP and Congress receive through Electoral bonds?
BJP received 6,500 crores and Congress received 1,100 crores through Electoral bonds, raising concerns about the influence of money in politics and potential corruption.
What are some proposed solutions to address issues with political funding?
Proposed solutions to address issues with political funding include banning private donations, state-funded elections, creating a national election fund, capping political party expenditure, and establishing an overarching investigating agency for transparency.
What are the consequences of illegal transactions under ordinary contract law?
The consequences of illegal transactions under ordinary contract law may include disgorgement, which is the act of giving up profits gained through illegal activities. In the case of Electoral bonds, the absence of disgorgement raises questions about accountability and fairness in political transactions.
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Summary
00:00
Supreme Court Declares Electoral Bonds Unconstitutional
- Discussion on Electoral bonds issue led by Mr. Kapil Sibal with three eminent personalities.
- Rich petition filed by Association for Democratic Reforms and CPIM against Electoral bonds scheme.
- Constitution bench led by Chief Justice of India and other justices declared Electoral bonds scheme unconstitutional.
- SBI directed to stop issuing Electoral bonds, provide purchase information to Election Commission.
- Justice Khanna disclosed political parties and amounts received, BJP received 6,500 crores, Congress 1,100 crores.
- Supreme Court judgment on Electoral bonds scheme delivered earlier this month.
- Concerns raised about non-level playing field due to BJP amassing 6,566 crores through Electoral bonds.
- Transparency issues highlighted in Electoral bonds scheme, opposition from RBI and Election Commission.
- Supreme Court emphasized right to information violation due to lack of transparency in political funding.
- Challenges posed by delayed hearing of important constitutional matters by the Supreme Court.
17:45
"Addressing Illegal Transactions and Political Funding"
- Illegal transaction occurred due to receiving illegal money through an illegal law, leading to inability to undo it.
- Ordinance typically passed in similar situations to return money, but debate ongoing on retrospective effect of criminal law.
- Differentiating between criminal law and illegal transaction, highlighting the consequences under the contract act.
- Disgorgement as a consequence of illegal transactions under ordinary contract law, questioning its absence in this case.
- Proposal to create a Level Playing Field to address the issue of illegal transactions and corrupt acts.
- Amendment allowing any amount of contribution from companies, leading to concerns of crony capitalism.
- Suggestions for solutions include banning private donations, state-funded elections, and a national election fund.
- Challenges faced by candidates in funding elections within set limits, raising concerns about the influence of money in politics.
- Proposal to cap political party expenditure to level the playing field and reduce the impact of money in elections.
- Discussion on the need for an overarching investigating agency to ensure transparency and prevent misuse of funds in political transactions.
34:05
Supreme Court rules against secrecy in politics
- The Supreme Court has ruled that secrecy cannot be a defense in court cases, eliminating the possibility of using it as a defense.
- The Supreme Court suggests the establishment of a special investigation team (SIT) to address potential quid pro quo situations in political donations.
- The majority of electoral bonds, valued at one crore each, are donated by wealthy individuals, indicating a likely awareness of the reasons behind their contributions.
- Political funding from the corporate sector, facilitated by electoral bonds, leads to a potential conflict of interest as the same sector controls a significant portion of the media.
- The lack of transparency in political party funding, especially regarding expenditures on media owned by corporate donors, raises concerns about accountability and fairness in elections.
- Calls for auditing political party accounts by independent auditors, appointed by bodies like the Election Commission, to ensure transparency and accountability in financial matters.
