New Delhi: In the wake of Election Commission slapping a notice on SP chief Mulayam Singh Yadav for allegedly distributing money in a function in Saifai in Uttar Pradesh, BJP today said the poll panel should either derecognise the party or cancel its symbol.

"It was a political function which was later called a Holi program. Mulayam Singh Yadav was himself telling his people from the stage that they should distribute more money. It is a black day for democracy," BJP spokesperson Prakash Javadekar told reporters.

The saffron party has written to the Election Commission demanding action against SP for violation of the model code of conduct.

"The Election Commission should either cancel their (SP) party symbol (bicycle) or derecognise the party. This is a conspiracy to turn 'loktantra' (democracy) into 'note-tantra' (rule of money)," Javadekar said, adding this was not a one-off case.

"It is a challenge to the Election Commission. If the Election Commission wants to conduct free and fair elections it should take action. And it has not only happened in Saifai but also in Rampur where Jayaprada (SP MP) has distributed money," Javadekar alleged.

Terming the event as a "serious crime", BJP demanded the the poll panel should not allow the use of "dhanbal" (money power) and "bahubal" (muscle power) in the Lok Sabha polls.