In an interim order, the apex court also directed all political parties to provide details of the amount and bank account of donors by May 30 to the poll panel.
The order was pronounced by a bench comprising Chief Justice Ranjan Gogoi and Justices Deepak Gupta and Sanjiv Khanna.
The order was passed on a plea of an NGO which challenged the validity of the scheme and sought that either the issuance of electoral bonds be stayed or names of donors be made public to ensure transparency in the poll process.
The government had notified the Electoral Bond Scheme 2018 on January 2, 2018. As per provisions of the scheme, electoral bonds may be purchased by a person, who is a citizen of India or incorporated or established in India. A person being an individual can buy electoral bonds, either singly or jointly with other individuals.
Only political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than one per cent of votes polled in the last general election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive electoral bonds.
Electoral bonds shall be encashed by an eligible political party only through a bank account with authorized bank.