THE LEGAL CONTROVERSY SURROUNDING ELECTORAL BONDS IN INDIA: A CONSTITUTIONAL DILEMMA

AUTHOR – SAMEER KUMAR, SCHOLAR AT SCHOOL OF LAW & JURISPRUDENCE, GLOCAL UNIVERSITY

BEST CITATION – SAMEER KUMAR, THE LEGAL CONTROVERSY SURROUNDING ELECTORAL BONDS IN INDIA: A CONSTITUTIONAL DILEMMA, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (3) OF 2024, PG. 104-114, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

The introduction of Electoral Bonds in India has sparked a significant constitutional debate, particularly concerning their impact on transparency and fairness in political funding. This paper critically examines the unconstitutional nature of Electoral Bonds, focusing on the landmark Supreme Court ruling that declared them unconstitutional. The Court’s decision was grounded in concerns over the opacity they introduce into the electoral process, undermining the right to information and violating principles of free and fair elections. The paper also explores the widespread opposition to Electoral Bonds, highlighting concerns raised by civil society, opposition parties, and legal experts who argue that these bonds facilitate unchecked corporate influence and foster corruption. The Supreme Court’s rationale for striking down the scheme is analysed in detail, including its emphasis on the constitutional mandate for transparency in political financing.

Furthermore, the paper delves into the immediate and long-term impacts of the ruling, considering the broader implications for India’s democratic processes and electoral integrity. The aftermath of the verdict, including potential legislative and policy changes, is also discussed. This analysis aims to contribute to the ongoing discourse on electoral reforms and the need for a more transparent and accountable political funding mechanism in India.

Keywords: Electoral Bonds, Supreme Court, Transparency, Political Funding, Constitutional Law