Karnataka HC grants stay on FIR against FM Nirmala Sitharaman over electoral bond allegations

New Delhi: The Karnataka High Court has granted an interim stay on the First Information Report (FIR) filed against Union Finance Minister Nirmala Sitharaman concerning allegations of extortion linked to electoral bonds. This decision also puts a halt to any further investigation into the matter, which involves Nalin Kumar Kateel, the former president of the Karnataka BJP, who is named as a co-accused.

The FIR was registered following a directive from a special court, with the complaint brought forth by Adarsh R. Iyer, Co-President of the 'Janaadhikaara Sangharsha Parishath' (JSP). Iyer accused Sitharaman and several BJP leaders, both at the state and national levels, of engaging in an extortion scheme masquerading under the electoral bond system. The complaint alleges that this group profited by more than ₹8,000 crore, allegedly with the assistance of officials from the Enforcement Directorate (ED).

Congress criticizes move 

In response to these allegations, the Congress party has called for Sitharaman's resignation and urged the formation of a Special Investigation Team (SIT), monitored by the Supreme Court, to investigate the electoral bond scheme. Congress General Secretary Jairam Ramesh outlined four methods through which the alleged extortion occurred: prepaid bribery, postpaid bribery, post-raid bribery, and transactions through fictitious companies.

Conversely, BJP MP Jagdish Shettar criticized the FIR, asserting that the ruling Congress party in Karnataka is motivated by political gain. He pointed out that the judiciary was already engaged in the matter and noted the absence of complaints from any aggrieved party directly connected to the alleged extortion. While the court's interim stay provides temporary relief, the legal battles surrounding the electoral bond scheme are expected to persist, with significant political implications for both parties involved.