One of the compelling stories during India’s ongoing general elections has concerned electoral bonds. On 15 February 2024, the Supreme Court (SC) struck down the electoral bond scheme for political donations as unconstitutional. This has meant serious ramifications for corpo-rate houses that made contributions to polit-ical parties based on this scheme and the three statutes which were amended to facili-tate it. If transactions done before the ruling are not preserved by the SC, it is going to cause donor companies a lot of hardship.
Please refer to the below document to read the full article by Lalit Kumar and Muskaan Gupta.
Lalit is a corporate commercial, M&A and private equity lawyer with a vast experience of twenty-two years. He has successfully led large and complex transactions for Indian and global corporations.