Supreme Court petition alleges electoral bonds 'scam' involving quid pro quo

A plea has been lodged with the Supreme Court, urging the establishment of a Special Investigation Team (SIT) to probe alleged quid pro quo transactions between corporations and political entities facilitated by Electoral Bonds donations.

The petition submitted by NGOs Common Cause and the Centre for Public Interest Litigation (CPIL) asserts that there is a significant financial wrongdoing linked to Electoral Bonds, involving crores of rupees. They argue that this can only be investigated thoroughly through an independent inquiry under the supervision of the Supreme Court.

Following the Supreme Court's nullification of the anonymous electoral bonds scheme, public disclosure revealed a substantial portion of bonds seemingly exchanged in quid pro quo arrangements.

These arrangements purportedly involved corporations bestowing bonds upon political parties in exchange for various favours, including securing government contracts or licenses, shielding themselves from scrutiny by investigative bodies like the CBI, Income Tax Department, and Enforcement Directorate, or as inducement for favourable alterations to policy.