Electoral bonds had laudable objective of bringing transparency in poll funding: BJP after SC verdict

Noting that the verdict has been delivered by a constitution bench of the apex court, he said the judgment runs into hundreds of pages and requires a comprehensive study before a structured reply is given by the party.

He further told reporters that the government headed by Prime Minister Narendra Modi has made efforts to reform election funding and the introduction of electoral bonds was a part of such measures.

Targeting the Congress, which had alleged that the bonds could also work as a bribe to the ruling BJP from corporate groups, he said the parties whose “DNA is based on corruption and bribery” should not level such charges against the BJP. Prasad added that people have thrown some parties out of the field and they could not now win even one seat in regions which used to be their strongholds.

The Supreme Court on Thursday held the changes made in the law to introduce the electoral bonds scheme as unconstitutional, in a unanimous verdict on a batch of pleas challenging the legal validity of the Centre’s scheme which allowed for anonymous funding to political parties.

A five-judge Constitution Bench presided by Chief Justice of India D Y Chandrachud also directed that “the issuing bank shall herewith stop the issuance of electoral bonds” and asked the State Bank of India (SBI) to “submit details of the electoral bonds purchased since the interim order of the court dated April 12, 2019, till date to the Election Commission of India (ECI)”.