Electoral Bond Scheme invalidation bars further issuance and prescribes donor identification, disclosure, and refund procedures.

Electoral Bond Scheme, 2018 created bearer promissory instruments purchasable via KYC-compliant bank accounts and encashable by qualified registered political parties through authorised bank accounts within prescribed sale windows and validity periods, providing donor anonymity alongside banking-channel transparency; a subsequent judicial pronouncement declared the Scheme and specified statutory amendments unconstitutional, prohibited issuance of fresh bonds, and set procedures for identification, disclosure, refund/return of bonds and treatment of unreclaimed amounts.

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