Senior Advocate Harish Salve represented the SBI
FAQs on EBs published by the SBI states KYC documents must be submitted by the purchaser: Supreme Court
SBI is directed to disclose the details by the close of business hours 12 March, 2024: Supreme Court
The Supreme Court had earlier declared that the State Bank of India (SBI) must release data pertaining to the sale and purchase of electoral bonds by March 6th after it seemed that electoral bonds were unconstitutional on February 15th. On March 4th however, SBI sought an extension of this stating that the matching of donors to donation after decoding is a time consuming laborious process as they were maintained in 2 separate silos containing a cumulative 44,434 data sets.
Senior Advocate Harish Salve represented the SBI. Contempt of Court petitions were also filed by the ADR, CPI (M) and the Common Cause for not meeting the deadline. “SBI submits in its application itself that the donor details and redemption details are available albeit in separate silos. In other words, the direction issued by this court requires SBI to disclose information which is already available with it. FAQs on EBs published by the SBI states KYC documents must be submitted by the purchaser each time the bond is purchased irrespective of whether the purchaser has a KYC verified SBI account. That is one set of documents (electoral bond application form, KYC documents and pay in slip) can only be used to purchase one electoral bond. Contributors who have an SBI account as well as those who don’t have to submit the EB application, KYC docs and proof of payment through NEFT/Cheque/DD. The submissions of the SBI sufficiently indicate that the information is readily available. The Application filed by the SBI seeking extension of time until 30 June, 2024 is dismissed. SBI is directed to disclose the details by the close of business hours 12 March, 2024 .ECI shall compile the information and publish the details in its official website no later than by 15 March, 2024 by 5 PM,” the bench consisting of the CJI and Justice Khanna stated its order. The court however did not pursue the contempt of court petition.
Senior Advocate Harish Salve represented the SBI
FAQs on EBs published by the SBI states KYC documents must be submitted by the purchaser: Supreme Court
SBI is directed to disclose the details by the close of business hours 12 March, 2024: Supreme Court
The Supreme Court had earlier declared that the State Bank of India (SBI) must release data pertaining to the sale and purchase of electoral bonds by March 6th after it seemed that electoral bonds were unconstitutional on February 15th. On March 4th however, SBI sought an extension of this stating that the matching of donors to donation after decoding is a time consuming laborious process as they were maintained in 2 separate silos containing a cumulative 44,434 data sets.
Senior Advocate Harish Salve represented the SBI. Contempt of Court petitions were also filed by the ADR, CPI (M) and the Common Cause for not meeting the deadline. “SBI submits in its application itself that the donor details and redemption details are available albeit in separate silos. In other words, the direction issued by this court requires SBI to disclose information which is already available with it. FAQs on EBs published by the SBI states KYC documents must be submitted by the purchaser each time the bond is purchased irrespective of whether the purchaser has a KYC verified SBI account. That is one set of documents (electoral bond application form, KYC documents and pay in slip) can only be used to purchase one electoral bond. Contributors who have an SBI account as well as those who don’t have to submit the EB application, KYC docs and proof of payment through NEFT/Cheque/DD. The submissions of the SBI sufficiently indicate that the information is readily available. The Application filed by the SBI seeking extension of time until 30 June, 2024 is dismissed. SBI is directed to disclose the details by the close of business hours 12 March, 2024 .ECI shall compile the information and publish the details in its official website no later than by 15 March, 2024 by 5 PM,” the bench consisting of the CJI and Justice Khanna stated its order. The court however did not pursue the contempt of court petition.
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