More Stories

Informist, Monday, Feb. 3, 2025

 

NEW DELHI – The Supreme Court on Monday upheld a Karnataka High Court order that had quashed proceedings pending before an additional chief judicial magistrate in Bengaluru against former Bharatiya Janata Party member of Parliament Nalin Kumar Kateel for alleged extortion of money under the electoral bond scheme. 

 

The apex court said that the complaint filed in the case was full of assumptions, and it couldn't order a roving enquiry based on such material. "It is a political battle being fought...We are not inclined to interfere with the impugned judgement. The SLP (special leave petition) is dismissed," the apex court said. The high court's judgment would not come in the way of any person who had material evidence to show and prove a case, the court added.

 

In September, the Bengaluru Police had registered a case against Finance Minister Nirmala Sitharaman, Cabinet Minister J.P. Nadda, and Kateel, among others, on a complaint filed by activist Adarsh R. Iyer, alleging that BJP leaders in connivance with some officials of the Directorate of Enforcement, extorted private firms and made illegal gains under the electoral bonds scheme.

 

The case was registered following an order from the 42nd additional chief metropolitan magistrate court. The complainant alleged that corporate entities were coerced into purchasing electoral bonds, which were then encashed by BJP leaders for political purposes. Over INR 80 billion was illegally collected through electoral bonds, the complaint stated. Challenging the criminal proceedings, Kateel moved the high court. The high court had only quashed criminal proceedings against Kateel and not Sitharaman and others, as they had not challenged the first information report. 

 

In February 2024, the Supreme Court had declared the electoral bond scheme unconstitutional and also directed State Bank of India to make public the details of individuals and companies that bought electoral bonds and the political parties that encashed these bonds. The scheme provided blanket anonymity to political donors. A five-judge Bench headed by then Chief Justice of India D.Y. Chandrachud had held that the scheme violated the right of voters to information about political funding under Article 19(1)(a) of the Constitution.  End

 

Reported by Surya Tripathi

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.