The Electoral Bond scheme allowed individuals and companies to anonymously purchase bonds to fund political parties, under the guise of transparency by mandating the use of regular banking channels like the State Bank of India (SBI). However, deeper analysis reveals the scheme created loopholes that fostered a lack of accountability and disproportionate corporate influence. This shifted power dynamics, enabling large corporations to secretly fund political parties and influence policies, at the expense of ordinary citizens.The Supreme Court’s recognition of these distortions, and ruling against the scheme, highlighting how it undermines the fundamentals of a representative democracy.
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