The Supreme Court on Monday referred to a five-judge Constitution bench a batch of pleas challenging the validity of the electoral bond scheme for political funding of parties.

A bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra said they have received an application that the matter being urgent be sent to a larger bench for a conclusive judgement.

The bench said the matter will be taken up on October 30, the date of hearing fixed earlier.

Earlier, the bench had taken note of the submissions of lawyer Prashant Bhushan that the matter needed adjudication before the electoral bond scheme opens for the 2024 general elections and had decided to fix it for final hearing.

There are four PILs pending on the issue. One of the PIL petitioners had said in March that so far Rs 12,000 crore has been paid to political parties through electoral bonds and the two-third of the amount has gone to one major political party.

Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring in transparency in political funding.

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