The Supreme Court on Monday dismissed the plea from State Bank of India (SBI) asking for extended time to disclose the list of electoral bonds. According to Live Law, the apex court has today directed it to disclose the information by the close of business hours of 12 March 2024. It also cautioned SBI that contempt proceedings would be initiated if it fails to comply.

The Court had earlier on 15th February 2024 directed the largest bank in India to submit all details of electoral bonds by 6th March 2024. Two days before the deadline, SBI made an appeal to the court give it time till 30th June 2024.

On Monday, Chief Justice DY Chandrachud said, “Our judgment is dated February 15. Today is March 11. In the last 26 days, what is the extent of matching done by you? The affidavit is silent on this. We expect a degree of candour from the State Bank of India.”

According to Live Law, Justice Sanjiv Khanna also said, “This is the number one bank in the country. We expect them to be able to handle this.”

The order stated, “…The State Bank of India has submitted that the donor details and redemption details are available, albeit in separate silos. In other words, the direction issued by this court requires the bank to disclose information which is already available with it.”

Welcoming the verdict, Congress President Mallikarjun Kharge said, “With today’s decision of the Honorable Supreme Court, the country will soon know the list of those who donated to BJP through electoral bonds. This is the first step in exposing the corruption, scams and transactions of Modi government.”

The Supreme Court’s decision is a victory for transparency, accountability, and level playing field in democracy, he added.

Read more: Modi using SBI as shield to hide dubious dealings through electoral bonds: Congress