In Brief
The Supreme Court invalidated the Electoral Bond Scheme and related Finance Act 2017 amendments as unconstitutional. The scheme allowed anonymous political donations through bearer bonds, exempting such contributions from disclosure requirements. The Court held this violated voters' fundamental right to information under Article 19(1)(a), essential for informed voting and free elections. The anonymity provision lacks rational connection to its stated aims (curbing black money and protecting privacy), with less restrictive alternatives available. The Court also struck down removal of caps on unlimited corporate funding, finding it manifestly arbitrary under Article 14 for failing to distinguish between companies and individuals, and profit-making and loss-making companies. The decision emphasizes that transparency, not secrecy, protects democratic integrity and requires disclosure of electoral bond donor details by political parties and banks.
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