: Electoral bonds: SC agrees to hear plea seeking stay on sale ahead of Assembly elections on March 24 #IndiaNEWS The Supreme Court on Thursday agreed to hear a plea seeking direction to stop further

Electoral bonds: SC agrees to hear plea seeking stay on sale ahead of Assembly elections on March 24 #IndiaNEWS
The Supreme Court on Thursday agreed to hear a plea seeking direction to stop further sale of electoral bonds on an urgent basis on March 24, Bar and Bench reported. Non-governmental organisation Association for Democratic Reforms had moved the court on March 9, citing “serious apprehension??? that the sale of electoral bonds ahead of the upcoming Assembly polls would lead to an increase in illegal funding of political parties through shell companies.Electoral bonds are monetary instruments that citizens or corporate groups can buy from a bank and give to a political party, which is then free to redeem them for money. The Centre had first introduced electoral bonds in January 2018. Advocate Prashant Bhushan, representing the NGO during Thursday’s hearing, told the court that they wanted the matter to be listed as new bonds were to be issued from April 1. Elections in West Bengal, Tamil Nadu, Assam, Kerala and Puducherry will be held between March 27 and April 29, and the results will be out on May 2.“New set [of] bonds to be issued from April 1 for coming elections,??? Bhushan said, according to Bar and Bench. “We need our case to be heard urgently. Election Commission has said these bonds allow illegal funds to be diverted to shell companies.???He also pointed out to the...Read more

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