The Supreme Court on Friday declined petitions seeking a probe by a Special Investigation Team (SIT) into the alleged instances of quid pro quo arrangements between corporations and political parties through Electoral Bonds donations.

The Court said that it would be "premature" and "inappropriate" to order an investigation under the monitoring of a retired judge when the remedies available under the ordinary law governing criminal law procedure have not been invoked.

The Court also turned down the pleas to direct the authorities to recover the donations received by political parties through electoral bonds and to re-open their income tax assessments. The Court said that these remedies pertain to the exercise of statutory functions by authorities under the Income Tax Act. For the Court to issue any such directions at this stage would mean amount to a conclusive opinion on disputed facts.

The Court said that the underlying premises of the petitions are "assumptions at the present stage."