• UGI USER
  • May 15, 2024
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SUPREME COURT ASSURES LISTING OF PETITION FOR SIT PROBE INTO ELECTORAL BONDS DATA CORRUPTION ALLEGATIONS

Why in the news?

  • The Supreme Court assured advocate Prashant Bhushan that a petition for constituting an SIT to investigate electoral bonds data would be listed soon.
  • It criticises investigative agencies like CBI, ED, and IT Department for alleged complicity in corruption cases.
  • The petition claims that firms under investigation donated significant amounts to the ruling party, possibly influencing investigations.
source:wordpress

About Electoral Bonds:

  • Introduced in 2017 via a Finance bill, implemented in 2018.
  • Facilitate anonymous donations to registered political parties.
  • Issued by State Bank of India (SBI) in denominations from Rs 1,000 to Rs 1 crore.Purchased by Indian citizens or entities established in India.
  • Valid for 15 calendar days.
  • Eligibility for political parties: Must be registered under Section 29A of the Representation of the People Act, 1951, and secure at least 1% of votes in the last general election.
What is the Central Bureau of Investigation (CBI)?

  • Recommended by Santhanam Committee for combating corruption.
  • Premier investigating agency of the Central Government.
  • Origin traced to the Special Police Establishment, established in 1941.
  • Formally established in 1963 under the Ministry of Home Affairs.
  • Derives powers from Delhi Special Police Establishment Act, 1946.
  • Non-statutory body.
  • Operates as an attached office under the Ministry of Personnel.

About Enforcement Directorate (ED):

  • Domestic law enforcement and economic intelligence agency.
  • Enforces economic laws and combats economic crimes.
  • Origin traces back to May 1956 as an “enforcement unit.”
  • Renamed the Enforcement Directorate in 1957.
  • Nodal Ministry: Department of Revenue, Ministry of Finance.

Associated Article:

https://universalinstitutions.com/indias-voters-deserve-a-bond-of-probity/