Electoral bonds verdict by Supreme Court: Landmark dates and events

The electoral bonds scheme was annulled by the Supreme Court in a landmark judgment delivered on February 15. These bonds, sold by the State Bank of India, were a mode of funding for political parties, by way of which donations were being made to them.

The apex court not just struck down the scheme but also ordered the SBI, the only authorised seller, to furnish all relevant info to the election watchdog in a time-bound manner. The EC will put up these details on its portal, allowing anyone interested to find out who was giving how much money to which political party.

Here follows a detailed chronology of events, right from the scheme's inception down to the final blow delivered to it by the top court.

• 2017: The scheme is introduced in Finance Bill.
• September 14, 2017: NGO 'Association for Democratic Reforms', the lead petitioner, challenges the scheme at the top court.
• October 03, 2017: SC issues notices to Centre and EC on PIL filed by the NGO.
• January 2, 2018: The Central government notifies the Electoral Bond Scheme.
• November 7, 2022: The electoral bond scheme was amended to increase the sale days from 70 to 85 in a year where any assembly election may be scheduled.
• Oct0ber 16, 2023: SC bench headed by CJI DY Chandrachud refers pleas against the scheme to a five-judge Constitution bench.
• October 31, 2023: A five-judge Constitution bench headed by CJI D Y Chandrachud commences hearing on pleas against the scheme.
• November 2, 2023: SC reserves verdict.
• February 15, 2024: SC delivers unanimous judgement annulling the scheme, saying it violates Constitutional right to freedom of speech and expression as well as the right to information.

With PTI inputs