New Delhi, Mar 18 : The Supreme Court on Thursday said it would hear on March 24 a plea filed by NGO Association for Democratic Reforms (ADR) seeking an interim direction to bar the fresh sale of Electoral Bonds from April 1.
The bench headed by Chief Justice SA Bobde said the petition was listed for early hearing in view of upcoming Assembly polls in four states and a Union Territory.
Advocate Prashant Bhushan, on behalf of ADR, while arguing for urgent hearing, pointed out that the petition has been pending in the Apex Court since September 2017.
He argued that the Election Commission has said these bonds allow illegal funds to be diverted to shell companies.
Solicitor General (SG) Tushar Mehta, appearing for the Centre, apprised the bench that there is no objection to the plea being heard next week.
Electoral bond, introduced through Finance Act 2017, can be issued specifically for the purpose of contribution of funds to political parties. It can be purchased as promissory note or bearer bond by any individual, company, firm or association of persons of the country.
The plea claimed that so far more than Rs 6,500 crore worth of electoral bonds sold in the country.
(UNI)
