The roster of entities engaging in political contributions through electoral bonds reads like a who's who of corporate giants. However, amidst the well-known names, one surprising figure stands out: Future Gaming and Hotel Services, a relatively obscure lottery company.
Among the recognizable players are industry titans like Lakshmi Mittal of the steel empire, Bharti Airtel led by Sunil Mittal, Anil Agarwal's Vedanta, as well as household names like ITC, Mahindra and Mahindra, and DLF. Additionally, notable conglomerates such as PVR, Birlas, Bajajs, Jindals, Spicejet, IndiGo, and the Goenkas are on the list.
Future Gaming and Hotel Services emerges as a major player, having invested a staggering Rs 1,368 crore in electoral bonds, closely followed by Megha Engineering and Infrastructure Ltd with Rs 966 crore. Notably, Future Gaming came under scrutiny from the Enforcement Directorate in March 2022.
While it's widely reported that the ruling BJP received the lion's share of donations, amounting to over Rs 6,000 crore, followed by the Congress party, the released data merely discloses the amounts contributed by each entity without specifying the recipient party.
Among the prominent contributors, Vedanta Ltd purchased bonds worth Rs 398 crore, while Sunil Mittal's conglomerate acquired bonds totaling Rs 246 crore across its various entities. Lakshmi Niwas Mittal individually bought bonds worth Rs 35 crore, while Megha Engineering, known for its involvement in significant infrastructure projects, purchased bonds worth Rs 966 crore.
Most of the bonds were issued in the names of political parties, with donations to the Congress and the Samajwadi Party attributed to the 'President, All India Congress Committee' and 'Adyaksha Samajvadi Party', respectively.
Following directives from the Supreme Court, the State Bank of India, the authorized seller of electoral bonds, shared the data with the Election Commission on March 12, within the stipulated timeframe set by the court.
The Election Commission, in compliance with the court's orders, released details of the 'Disclosure of Electoral Bonds Submitted by SBI' on its website ahead of the mandated deadline. The data reveals that a total of 22,217 electoral bonds were purchased between April 1, 2019, and February 15, 2024, of which 22,030 were redeemed by political parties.
The buyers of electoral bonds encompass a diverse range of entities including Spicejet, IndiGo, Grasim Industries, Piramal Enterprises, and several others. Likewise, a multitude of political parties, including the BJP, Congress, AIADMK, Trinamool Congress, and others, redeemed these bonds.
In a landmark ruling on February 15, a five-judge Constitution bench invalidated the Centre's electoral bonds scheme, labeling it "unconstitutional" and mandating disclosure of donors, donation amounts, and recipients by the Election Commission.
Apart from corporate entities, individual donors like Kiran Mazumdar Shaw and Varun Gupta, along with others including B K Goenka and Jainendra Shah, contributed through electoral bonds. Even hospitals like Yashoda Super Speciality Hospital and businesses like Bajaj Auto and Bajaj Finance participated in this process.
The data also reveals significant purchases by entities such as Qwik Supply Chain Pvt Ltd and Haldia Energy. Despite the released data, concerns have been raised regarding discrepancies in the number of entries and the timeframe covered by the disclosures.
Nevertheless, the participation of various entities in the electoral bond scheme underscores the complex intersection of finance and politics in India's democratic landscape.
Read also | 'Betrayed by TMC, will return to BJP': Arjun Singh After Denied LS Ticket in Bengal
Read also | Hindu Migrants Rally Outside Delhi CM Kejriwal's Home in Protest Against CAA Comments
