The Karnataka High Court has issued an interim stay on the investigation into allegations involving Finance Minister Nirmala Sitharaman and key BJP figures in the controversial electoral bonds case. This decision effectively halts the probe until further court deliberations scheduled for October 22.
The FIR lodged last Saturday encapsulates severe accusations of extortion under the facade of the now-defunct electoral bonds scheme, implicating several top BJP leaders including Karnataka BJP chief B Y Vijayendra and the former state president Nalin Kumar Kateel. The charges, under various sections of the Indian Penal Code (IPC), include extortion, criminal conspiracy, and common intention.
Adarsh R Iyer, co-president of the Janaadhikaara Sangharsha Parishath (JSP), spearheaded the complaint. Iyer’s allegations describe a complex web of financial extortion purportedly facilitated by Sitharaman with the covert support of Enforcement Directorate (ED) officials. The complaint outlines an extortion operation that purportedly amassed over ₹8,000 crore, benefiting associates across state and national echelons within the BJP.
Designed as interest-free banking instruments similar to promissory notes, electoral bonds were meant to be a method of donating anonymously to political parties, purchasable by any Indian citizen or organization adhering to strict KYC norms set by the Reserve Bank of India. However, the Supreme Court in February struck down the scheme, declaring it unconstitutional for violating the constitutional rights to information and free speech and expression.
