The Aryavarth Express
Agency(New Delhi): A new plea has been filed in the Supreme Court requesting the establishment of a Special Investigation Team (SIT) to examine alleged quid pro quo transactions involving political parties, corporations, and officials within investigating agencies related to electoral bonds. This development follows a landmark decision on February 15, when a five-judge constitution bench of the apex court terminated the Centre’s scheme for anonymous political funding via electoral bonds.
Introduced by the government on January 2, 2018, the electoral bonds scheme was promoted as a means to increase transparency in political contributions, providing an alternative to cash donations. However, the scheme has faced scrutiny and criticism for allowing anonymity, which critics argue could shield corrupt practices between donors and political parties.
Following the Supreme Court’s decision to invalidate the scheme, the State Bank of India, previously the authorized seller of these bonds, complied with a directive to disclose transaction data to the Election Commission, which subsequently made this information public.
The current plea, represented by advocate Prashant Bhushan, argues for a thorough investigation into the funding sources of shell companies and unprofitable firms that have made contributions to various political parties. The petition specifically calls for the recovery of funds found to be the proceeds of crime, aiming to address and rectify any instances of illicit financial transactions masked as political donations.
This request for a court-monitored investigation highlights ongoing concerns about the integrity of political financing in India and the potential for misuse of such schemes to facilitate undue influence over democratic processes.