New Delhi, Oct 28 (IANS): The Supreme Court has notified the composition of a five-judge Constitution bench which will hear a batch of petitions filed against the electoral bonds scheme.

As per the causelist published on the website of the apex court, a bench headed by CJI D.Y. Chandrachud and comprising Justices Sanjiv Khanna, B.R. Gavai, J.B. Pardiwala, and Manoj Misra will take up the matter for hearing on October 31.

On October 16, the Supreme Court had decided to refer the pleas to a five-judge Constitution bench in view of the importance of the issue raised having regard to Article 145(4) of the Constitution.

The batch of pleas challenges the electoral bonds scheme introduced by the Centre through amendments made to the Finance Act of 2017, alleging that the scheme has opened doors to unchecked funding for political parties.

An electoral bond can be purchased by any individual, company, firm or association of persons provided the person or body is an Indian citizen or is incorporated or established in India. These bonds are issued specifically for the purpose of contributing funds to political parties.