New Delhi (Loksatya). The Supreme Court on Friday dismissed a petition banning the sale of electoral bonds in five states, including West Bengal, Assam and Tamil Nadu, just before the assembly elections.
A division bench headed by Chief Justice Sharad Arvind Bobde dismissed the petition of the non-governmental organization Association for Democratic Reforms (ADR), stating, "Electoral bonds were allowed to be issued only in 2018 and 2019 and adequate security for the same Are standard. In such a situation it would not be justifiable to ban the electoral bond at the present time. ”
The bench also comprises Justice AS Bopanna and Justice V Ramasubramaniam. The court on Wednesday reserved the verdict after hearing the arguments of noted advocate Prashant Bhushan from ADR.
Bhushan had argued that the bond was a form of abuse that shell companies are using to make black money white. He said that only the government knows who is buying the bond. Even the Election Commission cannot take any information about this.
Bhushan had said that this is a kind of currency and more than seven thousand crore rupees have been purchased. It is a way of bribing the political party in power.
He said that there is a big possibility of fraud in this. After demonetisation, this system was brought to the government, which is being used to consume black money. There has been a lot of opposition to this move of the government.