Bhushan, appearing for the Association for Democratic Reforms (ADR), said he had filed a plea for staying the scheme which was brought forth to collect funds for political parties as it had emerged that even the RBI had objected to the project.
THE SUPREME Court said on Wednesday that it will consider hearing in January next year a plea seeking stay on the Electoral Bond Scheme, 2018.
“We will see in January,” a bench of Chief Justice of India S A Bobde and Justices B R Gavai and Surya Kant told Advocate Prashant Bhushan.
Bhushan, appearing for the Association for Democratic Reforms (ADR), said he had filed a plea for staying the scheme which was brought forth to collect funds for political parties as it had emerged that even the RBI had objected to the project.
The plea said documents obtained under the RTI Act showed that RBI gave “repeated warnings to the government”, stating that it has the potential to increase “black money circulation, money laundering, cross-border counterfeiting and forgery”.
The central bank raised concerns regarding the proposed amendment to RBI Act for enabling Scheduled Banks to issue Electoral Bearer Bonds, but the concerns “were summarily dismissed by the Finance Ministry”, the plea said.
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