The Supreme Court on Thursday struck down the electoral bonds (EB) scheme and directed the State Bank of India to stop issuing them immediately and submit all details to the Election Commission of India (ECI) by March 6 for making it public within a week.

“The ECI will make all donations public within one week of the receipt of information,” the court said as it delivered its verdict on a clutch of petitions that have contested the validity of the scheme of political funding.

A five-judge Constitution bench, headed by Chief Justice of India (CJI) Dhananjaya Y Chandrachud, and comprising justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra, ruled on the legal sanctity of the scheme ahead of the general elections expected in April and May.

The court said the scheme fails the least restrictive means test and the infringement of the right to information is not proportionally justified. It struck down amendments to the Income Tax Act and Representation of People Act on absolute non-disclosure of donations. “Information about funding of political parties is essential for effective exercise of choice of voting. EB scheme is thus violative of Article 19(1) (a),” said CJI on whether the scheme violates the right to information of electors as he read out the judgment on behalf of justices Pardiwala, Misra and himself.

The five-judge constitution bench gave two separate judgments with the CJI and Justice Khanna penning their separate but unanimous judgments.The court said the right to information of the voter isn’t justified to curb black money.