The Supreme Court of India held that, a Constitution Bench will start hearing a batch of petitions challenging the Electoral Bonds scheme on October 31.

The bench consists of Chief Justice of India DY Chandrachud, Justices Sanjiv Khanna, BR Gavai, JB Pardiwala and Manoj Misra. 

On October 16, a 3-judge bench comprising CJI, Justices JB Pardiwala and Manoj Mishra had referred the matter to a 5-judge bench.

The case centers on a group of petitions that challenge the amendments brought forth by the Finance Act of 2017, which laid the groundwork for the implementation of the Electoral Bonds scheme, enabling anonymous political contributions. Earlier, Chief Justice of India (CJI) Chandrachud had consented to hear these petitions, initially filed in 2017, following the petitioners' request to expedite the matter's consideration before the forthcoming general elections.

The Finance Act of 2017 incorporated amendments into various key legislative acts, including the Reserve Bank of India Act, Companies Act, Income Tax Act, Representation of People Act, and Foreign Contributions Regulations Act, with the intention of facilitating the implementation of the electoral bonds system.

The petitions challenging the electoral bonds scheme have been filed by the Communist Party of India (Marxist), as well as non-governmental organizations Common Cause and the Association for Democratic Reforms (ADR). They contest the electoral bonds system, characterizing it as an obscure funding mechanism. The petitioners have expressed concerns that the amendments to the Companies Act of 2013 might result in private corporate interests being prioritized over the needs and rights of the state's citizens in policy deliberations.

Back in 2021, the Supreme Court had refused to stay the release of electoral bonds ahead of the assembly elections in some States.