Today,  Constitution Bench comprising five judges, with Chief Justice of India (CJI) D.Y. Chandrachud  initiated the process of hearing numerous petitions that challenge the electoral bonds scheme. These petitions include those submitted by Congress leader Jaya Thakur, the Communist Party of India (Marxist), and the non-governmental organization Association for Democratic Reforms (ADR).

The electoral bonds scheme, which was officially announced on January 2, 2018, introduced financial instruments that allow both companies and individuals in India to contribute to political parties anonymously. The petitions argue that this system effectively opens the door to unrestricted political contributions and allows for the anonymous funding of political parties by both Indian and foreign companies. As a result, it is believed that this scheme legitimizes a large-scale form of electoral corruption.

During today's proceedings, advocate Prashant Bhushan, representing the Association for Democratic Reforms (ADR), presented the argument that there exists substantial evidence indicating that electoral bonds are being utilized as a means of providing kickbacks in exchange for favorable government policies. He highlighted that, both at the central and state levels, it is the ruling political parties that predominantly receive the bulk of these funds.

Mr. Bhushan highlighted that this “disturbs and destroys democracy” in the country as it does not allow a level playing field for political parties.

Today, CJI pointed out that, it is a matter of Policy.

The petitioners had previously informed the court that their primary focus would revolve around two key aspects of the electoral bonds scheme: firstly, the legalization of anonymous donations to political parties, and secondly, the violation of citizens' right to access information regarding political party funding.

The Supreme Court clarified that it would refrain from delving into the legal matter related to the passage of the scheme as a 'Money Bill' because this issue is already under consideration by a seven-judge Constitution Bench.

Recently, the Attorney General for India, R Venkataramani, in a statement filed before the Supreme Court in the electoral bonds case.

Attorney General for India, R Venkataramani has submitted that the citizens do not have the right to information under Article 19(1)(a) of the Constitution regarding the funding of a political party.

The Government of India has given written arguments before the 5-judge bench hearing the petitions challenging the electoral bond scheme, terming it as 'non-transparent and undemocratic'.

The hearing will resume tomorrow i.e. on November 1.