The Crossbill Team
The NGO Common Cause and the Centre for Public Interest Litigation (CPIL) on Wednesday (April 24) moved the Supreme Court seeking a court-monitored probe by a special investigation team (SIT) into alleged instances of quid pro quo over Electoral Bonds scheme involving political parties, corporate entities and officials of central agencies.
Earlier on February 15, in a landmark judgment, the apex court had struck down the scheme, calling it “unconstitutional and manifestly arbitrary”. The court directed the State Bank of India (SBI) to hand over all the details associated with the sale and purchase of Electoral Bonds to the Election Commission of India (ECI) and subsequently directed the ECI to put up all the details provide by SBI on their website. This was done so that voters can see if any quid pro quo arrangements were made between corporate donors and political parties.
On Wednesday the petition filed through advocate Prashant Bhushan alleged that a scam worth crore of rupees is involved in the Electoral Bonds case, which can be unravelled only through an independent investigation under the monitoring of the Supreme Court.
According to Live Law, the disclosed Electoral Bond data had revealed that the bulk of the bonds appear to have been given as quid pro quo arrangements by corporates to political parties either: (a) to secure government contracts or licenses, (b) to secure protection from investigations by CBI, Income Tax Department, Enforcement Directorate, (c) as consideration of favourable policy changes.
The petition stated, “The data as published by the ECI on its website exposed how quid pro quo arrangements have potentially been made between large corporates and political parties in the last 6 years through the use of electoral bonds. The data shows private companies have paid crores of funds to political parties either as “protection money' for protection against agencies under the central government or as a “bribe” in return for undue benefits. In some instances, it has been seen that the political parties in power at the centre or in states have apparently amended policies and/or lawsto provide benefits to private corporates at the cost of public interest and the public exchequer," as quoted by Live Law.
Raising money laundering issue, the petition pointed out that many shell companies and loss-making organisations poured huge money to political parties through Electoral Bonds.
"In the Electoral Bond scam, some of the country's main investigative agencies such as the CBI, Enforcement Directorate and the Income Tax Department appear to have become accessories to corruption. Several firms which were under investigation by these agencies have donated large sums of money to the ruling party, potentially to influence outcomes of probes," the petition stated as per reported by Live Law.
Apart from that the petition brought to the notice of the court about various companies such as Megha Engineering and Infrastructures Ltd, APCO Infratech Private Limited (APCO), Future Gaming and Hotel Services, Grasim Industries, IFB Agro Limited, Infina Capital Private Ltd. (Infina), Aurobindo Pharma, Vedanta, Bharti Airtel Limited, among others with a special mention for pharma companies, who bought electoral bonds violating Prevention of Corruption Act, 1988.
Earlier on February 15, in a landmark judgment, the apex court had struck down the scheme, calling it “unconstitutional and manifestly arbitrary”. The court directed the State Bank of India (SBI) to hand over all the details associated with the sale and purchase of Electoral Bonds to the Election Commission of India (ECI) and subsequently directed the ECI to put up all the details provide by SBI on their website. This was done so that voters can see if any quid pro quo arrangements were made between corporate donors and political parties.
On Wednesday the petition filed through advocate Prashant Bhushan alleged that a scam worth crore of rupees is involved in the Electoral Bonds case, which can be unravelled only through an independent investigation under the monitoring of the Supreme Court.
According to Live Law, the disclosed Electoral Bond data had revealed that the bulk of the bonds appear to have been given as quid pro quo arrangements by corporates to political parties either: (a) to secure government contracts or licenses, (b) to secure protection from investigations by CBI, Income Tax Department, Enforcement Directorate, (c) as consideration of favourable policy changes.
The petition stated, “The data as published by the ECI on its website exposed how quid pro quo arrangements have potentially been made between large corporates and political parties in the last 6 years through the use of electoral bonds. The data shows private companies have paid crores of funds to political parties either as “protection money' for protection against agencies under the central government or as a “bribe” in return for undue benefits. In some instances, it has been seen that the political parties in power at the centre or in states have apparently amended policies and/or lawsto provide benefits to private corporates at the cost of public interest and the public exchequer," as quoted by Live Law.
Raising money laundering issue, the petition pointed out that many shell companies and loss-making organisations poured huge money to political parties through Electoral Bonds.
"In the Electoral Bond scam, some of the country's main investigative agencies such as the CBI, Enforcement Directorate and the Income Tax Department appear to have become accessories to corruption. Several firms which were under investigation by these agencies have donated large sums of money to the ruling party, potentially to influence outcomes of probes," the petition stated as per reported by Live Law.
Apart from that the petition brought to the notice of the court about various companies such as Megha Engineering and Infrastructures Ltd, APCO Infratech Private Limited (APCO), Future Gaming and Hotel Services, Grasim Industries, IFB Agro Limited, Infina Capital Private Ltd. (Infina), Aurobindo Pharma, Vedanta, Bharti Airtel Limited, among others with a special mention for pharma companies, who bought electoral bonds violating Prevention of Corruption Act, 1988.
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