In Brief
The Association for Democratic Reforms sought to stay the Electoral Bond Scheme, 2018, arguing that it permits anonymous funding of political parties, undermining electoral transparency. The Supreme Court dismissed both stay applications, holding that the Scheme provides adequate safeguards: purchases and encashment occur exclusively through banking channels with KYC compliance; bonds are non-tradable; political parties must file audited accounts with the Election Commission; and companies purchasing bonds must disclose expenditure in publicly-filed financial statements. While political donors enjoy anonymity, the Court found that comprehensive information remains accessible through cross-referencing multiple public sources. The Court also rejected repeated applications for periodic stay on grounds that once an interim order is passed, identical relief cannot be sought every time a fresh bond issuance window opens.
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