Chennai port trust, Building in Chennai, India

New Delhi [India], March 21 : The Supreme Court on Tuesday posted for April 11 to hear submissions on whether to refer to the Constitution bench a batch of pleas challenging the government's Electoral Bond scheme which allows for anonymous funding to political parties.A bench of Chief Justice DY Chandrachud and Justice PS Narasimha said it will consider on April 11 if the Electoral Bonds case should be referred to a five-judge Constitution bench.The apex court passed the direction after the petitioner's counsel said the matter is of Constitutional importance and could impact democratic polity in the country and funding of political parties."This case should be heard by a constitution bench since this deserves an authoritative pronouncement by the court," said advocate Shadan Farasat appearing for one of the petitioners.To this, the bench said, "Then we will hear it on April 11, 2023, to see if it should be referred to the Constitution bench."During the hearing senior advocate, Dushyant Dave told the bench that the matter has been pending for a long and asked are we going to wait for the Karnataka elections now so that another tranche of Electoral Bonds is given.Earlier, advocate Prashant Bhushan, representing NGOs Association for Democratic Reforms and Common Cause - petitioners in the case, had told the apex court that the matter should be referred to a five-judge Constitution bench.An application was filed earlier relating to the Centre amending the Electoral Bond scheme to allow their sale for 15 extra days during the "year of general elections to the legislative assembly of States and Union territories with the legislature".The new application was filed by Congress leader Jaya Thakur in the main matter, which has been pending since 2017.Jaya Thakur had challenged the Electoral Bond scheme which allows for anonymous funding to political parties.An Electoral Bond is an instrument in the nature of a promissory note or bearer bond which can be purchased by any individual, company, firm or association of persons provided the person or body is a citizen of India or incorporated or established in India. The bonds are issued specifically for the purpose of contributing funds to political parties.The Ministry of Finance on November 7, 2022, issued a notification for amending the scheme to provide "an additional period of 15 days" for their sale "in the year of general elections to the Legislative Assembly of States and Union Territories with Legislature"."An additional period of fifteen days shall be specified by the central government in the year of general elections to the legislative assembly of states and Union territories with the legislature," the gazette notification said.The government notified the Electoral Bond Scheme in 2018. The bonds under this scheme are usually made available for purchase by any person for a period of ten days each in the months of January, April, July and October, when specified by the Union government.The original scheme had provided for an additional period of thirty days, as specified by the government, in the year when Lok Sabha elections are held, while the amendment adds another 15 days.In October last year, the Centre in an affidavit had said that methodology of the electoral bonds scheme is a "completely transparent" mode of political funding and it is impossible to get black money or unaccounted money.Various petitions are pending before the top court challenging at least amendments made to different statutes through the Finance Act 2017 and Finance Act 2016 on the ground that they have opened doors to unlimited, unchecked funding of political parties.NGOs Association of Democratic Reforms and Common Cause have said that Finance Bill, 2017, which paved the way for introducing the Electoral Bond scheme, was passed as a money bill even though it wasn't.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Chennai Port TrustFOLLOW

Chennai port trust, Latest News

Ujjain (Madhya Pradesh) [India], March 21 : Have you ever heard of 'Ghost Fair' or 'Bhooton ka Mela'? No ... ...

Mumbai (Maharashtra) [India], March 21 : As it's a Navroz today, several celebrities extended the Parsi New Year wishes ... ...

New Delhi [India], March 21 (/NewsVoir): iEnergizer has been Great Place to Work® Certified™ in India from March 2023 ... ...

New Delhi [India], March 21 : Hitting out at the Bharatiya Janata Party-led central government over the removal of ... ...

Bangalore (Karnataka) [India]/ Barcelona [Spain], March 21 (/PRNewswire): Foundation for Neglected Disease Research (FNDR) and DevsHealth have announced the ... ...

Mumbai, March 21 Actress Dia Mirza, who will soon be seen in the upcoming pandemic drama film, 'Bheed', ... ...

New Delhi [India], March 21 : Launching a scathing attack on the government after interpol removed absconding diamantaire Mehul ... ...

New Delhi [India], March 21 : The Supreme Court on Tuesday posted for April 11 to hear submissions on ... ...