Who Is Jaya Thakur? Woman Who Took Down Electoral Bonds Scheme

The Supreme Court delivered a decisive order on the electoral bonds scheme, a matter championed by Jaya Thakur of the Congress party, alongside the Association for Democratic Reforms (ADR) and CPI(M). The verdict, pronounced by a five-judge Constitution bench, has significant implications for the transparency of election funding and also dismisses the State Bank of India's plea for an extension of time, mandating the submission of electoral bonds details to the Election Commission by the close of business hours on March 12. 

The Chief Justice of India, DY Chandrachud, spearheading the bench, further instructed the election commission to publish these details on its official website by 5 pm on March 15. In a stern warning, the apex court cautioned the SBI's chairman and managing director about potential contempt proceedings should the order not be adhered to within the stipulated timeframe.

Jaya Thakur, too, expressed her satisfaction with the court's decision, emphasizing its gravity in addressing the  core issue at hand. As a key petitioner, she stressed the importance of transparency in election funding, a sentiment echoed in her plea filed through advocate Varun Thakur.

Who is Jaya Thakur?

Jaya Thakur, a prominent Congress leader and a medical professional by trade, hails from Banda in Sagar district, Madhya Pradesh. Serving as the general secretary of the Madhya Pradesh Congress Committee, she emerged as a central figure in the plea filed before the Supreme Court. The plea sought to restrain the appointment of two election commissioners under the provisions of a new law enacted in December 2023, anticipating the forthcoming announcement of Lok Sabha polls in 2024.

During an interview with Rediff.com, Jaya Thakur voiced concerns about the erosion of transparency in election funding since the introduction of the electoral bonds scheme in 2018. She highlighted a critical flaw wherein the names of donors remained undisclosed, envisioning its ramifications for the democratic process. Jaya Thakur's foresight came to the forefront as she expressed how this opacity in funding became a formidable challenge for political parties in their electoral battles, citing the BJP's unassailable position.

"I feel any party receiving funds from corporate entities should disclose the names of these contributors," Jaya Thakur asserted, emphasizing the need for openness in political funding, beyond partisan lines.

Electoral Bonds Saga

The court's decision to scrap the electoral bonds scheme stems from concerns about anonymous political funding, highlighting the need for transparency in the democratic process. The SBI is now tasked with revealing information on donors, the amounts donated, and the recipients by March 13. However, the bank's recent request to extend this deadline to June 30 faced scrutiny from the bench.

A bench comprising Chief Justice DY Chandrachud and Justices Sanjiv Khanna, B R Gavai, J B Pardiwala, and Manoj Misra questioned the SBI's actions over the past 26 days, emphasizing the urgency of the matter. The court highlighted that the SBI merely needs to open a sealed cover, collate the details, and provide the necessary information to the Election Commission. Senior advocate Harish Salve, representing the SBI, argued that additional time was required due to the dispersion of information across different silos within the bank's branches. The court, however, maintained that a straightforward disclosure was all that was expected.

The controversy surrounding electoral bonds has not been devoid of political implications. Congress chief Mallikarjun Kharge, in response to the SBI's plea for an extension, accused the BJP government of using the bank as a shield for "dubious dealings." He asserted that the government sought to delay the disclosure until after the Lok Sabha elections, alleging a strategic move to protect questionable transactions.

As the deadline looms closer, the State Bank of India is thrust into the heart of a legal and political maelstrom. The Supreme Court's emphasis on transparency in political funding highlights the seriousness of the situation. The impending disclosure of electoral bond details is poised to reveal a crucial chapter in the forthcoming Lok Sabha elections, highlighting the importance of accountability and the urgent need for financial transparency.