Electoral bonds case LIVE updates: Supreme Court will deliver the verdict today at 10:30 am.
Electoral bonds case LIVE updates: The Supreme Court on Thursday will deliver its verdict on the series of pleas which challenge the legal validity of the electoral bonds scheme. The verdict will be delivered at 10:30am on February 15, by a Supreme Court bench headed by Chief Justice of India DY Chandrachud.
A five-judge constitutional bench, headed by CJI Chandrachud, had earlier proposed exploring alternative systems for the funding of political parties while the flaws of the current system are ironed out.
The financial scheme was launched in 2018, where electoral bonds were used as instruments that can be purchased by individuals or companies from banks to present to a political party, which can in turn redeem the same for funds and donations.
The electoral bonds scheme was pitched as an alternative to cash donations made to political parties as part of efforts to bring in transparency to political funding.
According to the provisions of the scheme, only the political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than 1 per cent of the votes polled in the last elections to the Lok Sabha or a state legislative assembly are eligible to receive electoral bonds.
