:this is the most unconstitutional undemocratic unfair scheme that destroys the very basic structure of our constitution free and fair election empow that party through Capital to influence everything honorable finance minister is also saying that we have started a process may not be a foolproof process some element of transparency would be introduced in as much as all donors declare in their account the amount of bonds that they have purchased and all parties declare the Quantum of bonds how much each donor has distributed to a political party would be known only to the donor this is necessary because once this disclosure is made past experience has shown donors would not find the scheme attractive and would go back to less desirable option of donating by cash but this is the experienced view of the lawmakers that if this Con confidentiality is not ensured people go to the earlier regim in fact the choice has now to be consciously made between the existing system of substantial cash donations which involves total uncling money and is non-transparent and the new scheme which gives the option to the donors to donate through entirely a transparent method of check online transaction or through electoral bonds but it is if I want to disclose my identity I can pay by check it's not taken away I don't have to go through this electoral Bond scheme I can still pay by rtgs Direct Banking transfer or through check but then my identity would be disclosed if I wish that to remain confidential then electoral Bond but I have very seriously and I'm bound to considered Lord the concerns which your Lordships have shown as cust storian of fundamental rights of the citizens and the government is proud about it that your Lordships are concerned and we have some I have some solutions to offer so that that concern also can be addressed and your L would find the bonafides of the government that we really do not want to know who has donated whom what amount let the confidentiality remain complete except under the court order I I'll say as in when that part of the scheme comes but that Mr solicitor you know anyway who has donated what amount the moment an electoral bond is tendered to a political party by a constituent I the party would know the party knows it the what the donor doesn't want is the other party should not know appreciate the example which comfortable to Mr just on the Lighter Side suppose mord as a contractor I donate to say congress party I don't want BJP to know because it might form a government in the next I forgotten I'm not in the congress party you appear for a congress person from Mad Pradesh and therefore I'm saying you are appearing for a government you're not part of that party absolutely not so I'm also not no I am just putting myself as a contractor that example I thought was a my learned friends client is a leader of a congress party that's all right in madhya Pradesh therefore I'm giving the example of madhya Pradesh and I'm saying that a contractor wants to donate to Congress would have an apprehension that BJP might continue to be in power or VI Versa if he gives donation to the ruling party in mad Pradesh he might have a element of fear that Congress might form the government that confidentiality the donor wants to ensure and that is not for me to judge that is for the lawmakers to judge and the lawmakers felt in the Parliament that this is the most incentivized way of L black money generation and black money payment in the political process that's their beaut you but what about this voter's right as just chaga has pointed out let let let me long that is a wider choice that would be a separate debate voters right Lord is to know what party gets what information but I would not choose to vote for a particular party because Mr X the contractor has given uh electoral contribution to a party well that's an utopian dream that's an idealistic dream we have to formulate a policy based on practicalities involved otherwise we will not be able to mips have a very heavy responsibility on your shoulders that is encouraging clean money to come into the system and discouraging those Elements which compelled the people to use the black money so the transparency Democratic principles right to know etc etc they are idealistic things and I bow down to those principles but when we formulate a policy we must formulate a policy which balances purity of election is supreme over right to know voter votes not based upon which party is funded by whom voter votes based upon the uh ideology of the party the principles of the party the leadership of the party the efficiency of the party and how the business houses vote whether this party's government is giving me a sufficiently good environment to secure my investment it's not always withit proo as a businessman I would choose that this party government whenever it is formed there is red tapism there is corruption there is interference by the ministers there is interference by the MLS as against that X party when it forms the government it is policy based decisions not individual based decisions my investment is secured there is a business friendly environment less red typism and therefore I would like this government to be formed and that's the business interest of every business owner I I'll read further because the honorable Finance Minister was also very categorical that we we are not coming out with a fullprof scheme there may be some Lunas here or there and we are ready to improve this in fact the I have read that while all the three methods involve clean money the first two are totally transparent and the Electoral Bond scheme is a substantial Improvement in transform transparency over the present system of non-transparency please see M this is what mord the honest government M Lord framing a policy for the betterment of the people and in larger public interest would say and rarely says this is what the honorable Finance Minister said the government is willing to consider all suggestions to further strengthen the cleansing of political funding in India it has to be born in mind that impractical such ations will not improve the cash domination system they would only consolidate it l the words are if I may use the Expression prophetic that this is substantially we are trying to reduce the element of black money clean money coming in the system there may be leas we are ready for suggestions we are ready for improvement but if the suggestions as the Minister says are not practical it would defeat the object these electoral bonds are meant for a political party to be in power in perpetuity because the amount of money through these means which quote unquote are legitimate will Empower that party through Capital to influence everything this is the most unconstitutional undemocratic unfair scheme that destroys the very basic basic structure of our constitution free and fair elections is the basic structure of our constitution this scheme is neither free nor is it fair it's not free because the cap the the the industrialist cannot say no it is not fair because in that process the political party in power gets the maximum capital and the capital it wants not for elections for other purposes that's very dangerous incentivizing and I'm come to the other main argument incentivizing I won't take more than few minutes on it I don't want to trouble you incentivizing the use of banking channels of course you will get this legitimate money through banking channels in fact that's the perfectly rational way of enriching yourself perfectly rational way but that's not a justification for empowering yourself I can understand if there was a correlation between this and the election process in which you must disclose how much you have spent where you have spent but that cannot be because the it is the candidate who's fighting the election not the political party as far as persecuting the person who has been given the money by that party to an opposite party they will be persecuted but why will they be pers persecuted well let me tell yous just just to tell yours what the reality is a big industrialist who has enormous power we give it to all political parties and the party of the center will never never hold it against that industrialist because everybody's benefited the system enjoys this money enormous Capital to the party that is in the center and small little donations to the others and everybody knows about it it's not it's not a secret so there'll be no retributions that why did you give it to that party because you've also got the maximum why should there be an retribution so this whole argument that no there'll be a retribution why have you given to that party supposing I have got 100 cres I get 100 cres but the donation shows that he has given 500es I'll know that 100 cres come to me 400 they gone somewhere else and if M for the 100 crores the the the the quit proo is four five six instances then out of 400 crores why should why should the retribution be more than just four five6 instances the same logic will apply same logic will apply so why why are you protecting those mothers and the most serious part mothers which I said earlier that I will never be able to go to a court of law what you're doing is giving a protection to corrupt transactions by not putting that information in the public domain because I will never know soas how do I move forward Where do I go I can't file an F because I don't know I'll be subject to defamation I can't go to court I have under 1563 I'll have to go to uh I I'll have to give some data I don't have the data so what court order are we talking about don't Shield the process of corruption itself by allowing this to go on if you want to deal with corruption the first thing to do is to wash this scale this is the shortest way for political perpetu reservation as a policy the central government is committed to my WR submissions are only confined to the question referred whether there can be a subclassification ification or not right and subclassification as a concept was bothering your Lordships lord and there are some judgments which reflect that: this is court hearing between two party , which is best conclusion according to you for better democracy of people and for right of people