Introduction:
The State Bank of India (SBI) has declined to disclose the legal fees paid to advocate Harish Salve for representing the bank in the electoral bonds case, citing exemptions under the Right to Information (RTI) Act.
Background:
Activist Commodore Lokesh Batra filed an RTI query seeking information on the legal fees paid to Harish Salve and the complete set of Electoral Bonds data provided by the SBI to the Election Commission of India. The SBI refused to disclose this information, citing exemptions under the RTI Act.
History:
On February 15, a Constitution Bench of the Supreme Court struck down the anonymous Electoral Bonds scheme, directing the SBI to disclose the details of the Electoral Bonds sold and redeemed between April 12, 2019, to February 15, 2024, to the Election Commission of India by March 6, 2024. The SBI sought an extension till June 30, which was rejected by the Supreme Court.
Key Aspects:
Senior Advocate Harish Salve represented the SBI before the Supreme Court. On March 11, the Court dismissed the SBI’s application for an extension and directed it to disclose the information by March 12. The Court later expressed dissatisfaction with the SBI’s disclosure, particularly regarding the unique bond numbers, which are crucial for matching purchasers with political parties.
Legal Consideration:
The SBI cited exemptions under Section 8(1)(e) and (j) of the RTI Act, claiming that the information sought is third-party personal information held in a fiduciary capacity and is commercially confidential. However, the Supreme Court has directed the SBI to disclose all data relating to the Electoral Bonds, including their unique alphanumeric numbers.
Conclusion:
The SBI’s refusal to disclose the legal fees paid to Harish Salve and the complete Electoral Bonds data raises questions about transparency and accountability in political funding. The Supreme Court’s directive underscores the importance of transparency in the electoral process and highlights the need for robust mechanisms to ensure accountability.
SOURCE – BUSINESS TODAY
