By NewsBlogger The State Bank of India has disclosed data on electoral bonds following pressure from the Supreme Court, revealing that the top 10 donors to the BJP contribute to 35% of the party’s electoral bond fund, with notable donations from companies like Future Games and Hotel Services Limited and Megha Group, prompting discussions on the need for transparency and accountability in the electoral finance system.
At a glance
- The State Bank of India disclosed data on electoral bonds under pressure from the Supreme Court.
- Top 10 donors to the BJP contribute to 35% of the party’s electoral bond fund.
- Major contributors include MKJ Group, RPSG, Aditya Birla Group, Qwik Supply Chain Pvt Ltd, and Vedanta Limited.
- Election Commission data shows 18,741 electoral bonds totaling Rs 12,145.88 crore with matching purchaser and recipient details.
- Aurobindo Pharma Director P Sarath Chandra Reddy was arrested in a money laundering case related to electoral bonds.
The details
The State Bank of India has disclosed data on electoral bonds following pressure from the Supreme Court.
It has been revealed that the top 10 donors to the BJP contribute to 35% of the party’s electoral bond fund.
Notably, Future Games and Hotel Services Limited made a significant donation of Rs 100 crore to the BJP. Megha Group emerged as the top donor for both the BJP and Congress.
Major Contributors
Among the major contributors, MKJ Group donated Rs 617 crore, with the BJP receiving Rs 372 crore.
RPSG donated Rs 584 crore, with Trinamool Congress receiving Rs 419 crore.
Aditya Birla Group contributed Rs 553 crore, with BJD receiving Rs 245 crore.
Qwik Supply Chain Pvt Ltd donated Rs 410 crore, with the BJP receiving Rs 375 crore.
Vedanta Limited donated Rs 401 crore, with the BJP receiving Rs 227 crore.
Bharti Group donated Rs 247 crore, with the BJP receiving Rs 197 crore.
Jindal companies donated Rs 192 crore, with BJD receiving Rs 100 crore.
Torrent Group donated Rs 184 crore, with the BJP receiving Rs 107 crore.
The Election Commission of India published data on 18,871 electoral bonds purchased and 20,421 redeemed.
Out of these, purchaser and recipient details matched for 18,741 electoral bonds, totaling Rs 12,145.88 crore.
Money Laundering Case
In a separate development, Aurobindo Pharma Director P Sarath Chandra Reddy was arrested in a money laundering case related to the Delhi excise policy.
Aurobindo Pharma purchased electoral bonds worth Rs 5 crore on November 15, 2022, which were encashed by the BJP on November 21, 2022. Reddy, who was allowed to turn approver in the case and granted a pardon by a Delhi court in June, was alleged by the Enforcement Directorate to be involved in the liquor business and conspiring with business owners and politicians.
Aurobindo Pharma acquired electoral bonds worth Rs 52 crore between April 2021 and November 2023, with 66% going to the BJP, 29% to Bharat Rashtra Samithi, and the remainder to Telugu Desam Party.
Further investigations revealed that many companies that donated to political parties through electoral bonds also utilized the electoral trust route.
The top 10 donors through trusts over the past five years include Serum Institute of India Pvt Ltd, Medha Servo Drives, and ArcelorMittal Nippon Steel.
ArcelorMittal Nippon Steel donated Rs 100 crore through Prudent Electoral Trust in 2022-2023, while ArcelorMittal Design and Engineering Centre gave Rs 25 crore.
Serum Institute of India, though not listed in electoral bond donors, saw its founder Cyrus Poonawala feature in the list of individual donors to the Nationalist Congress Party.
The Electoral Bond Scheme, which allowed for anonymous donations by individuals and companies to political parties, was struck down by the Supreme Court on February 15 for violating the Right to Information.
As a result, the State Bank of India has been directed to make all data of donors and beneficiaries of electoral bonds public.
These revelations shed light on the intricate web of political funding through electoral bonds and trusts, highlighting the need for transparency and accountability in the electoral finance system.
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| indianexpress.com |
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| – State Bank of India revealed data on electoral bonds after Supreme Court pressure – Top 10 donors to BJP account for 35% of party’s electoral bond kitty – Future Games and Hotel Services Limited donated Rs 100 crore to BJP – Megha Group was top donor for both BJP and Congress – MKJ Group donated Rs 617 crore, with BJP receiving Rs 372 crore – RPSG donated Rs 584 crore, with Trinamool receiving Rs 419 crore – Aditya Birla Group donated Rs 553 crore, with BJD receiving Rs 245 crore – Qwik Supply Chain Pvt Ltd donated Rs 410 crore, with BJP receiving Rs 375 crore – Vedanta Limited donated Rs 401 crore, with BJP receiving Rs 227 crore – Bharti Group donated Rs 247 crore, with BJP receiving Rs 197 crore – Jindal companies donated Rs 192 crore, with BJD receiving Rs 100 crore – Torrent Group donated Rs 184 crore, with BJP receiving Rs 107 crore – ECI published data on 18,871 electoral bonds purchased and 20,421 redeemed – Purchaser and recipient matched for 18,741 electoral bonds, totaling Rs 12,145.88 crore |
| indianexpress.com |
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| – Aurobindo Pharma Director P Sarath Chandra Reddy was arrested in a money laundering case tied to the Delhi excise policy – Aurobindo Pharma purchased electoral bonds worth Rs 5 crore on November 15, 2022 – BJP encashed the Rs 5 crore in electoral bonds on November 21, 2022 – Reddy was allowed to turn approver in the case and granted a pardon by a Delhi court in June – Enforcement Directorate alleged Reddy was involved in the liquor business and conspired with business owners and politicians – Aurobindo Pharma acquired electoral bonds worth Rs 52 crore between April 2021 and November 2023 – 66% of the bonds went to the BJP, 29% to Bharat Rashtra Samithi, and the rest to Telugu Desam Party – 57% of the Rs 52 crore in electoral bonds were acquired between November 2022 and November 2023 – Aurobindo Pharma earned revenue exceeding Rs 24,000 crore in 2023 – Approximately 90% of Aurobindo Pharma’s revenue comes from international operations – AAP communication in-charge Vijay Nair allegedly received kickbacks of Rs 100 crore from a group known as the South Group – |
| The kickbacks were allegedly paid in advance to AAP leaders through Nair by the South Group to secure favors and stakes in businesses |
| indianexpress.com |
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| – Many companies that donated to parties using electoral bonds also used the electoral trust route – Top 10 donors through trusts over the past five years include Serum Institute of India Pvt Ltd, Medha Servo Drives, and ArcelorMittal Nippon Steel – ArcelorMittal Nippon Steel donated Rs 100 crore and ArcelorMittal Design and Engineering Centre gave Rs 25 crore through Prudent Electoral Trust in 2022-2023 – ArcelorMittal’s name did not figure in the list of donors of electoral bonds released by the Election Commission – Serum Institute was not in the list of EB donors, but its founder Cyrus Poonawala did figure in the list of individual donors to the Nationalist Congress Party – Medha Servo Drives gave Rs 30 crore and Medha Traction Equipment donated Rs 5.01 crore in 2022-23 through Prudent Electoral Trust – Serum Institute of India donated Rs 50.25 crore in 2022-23 and was the second largest donor through trusts – ArcelorMittal Nippon Steel India and ArcelorMittal Design and Engg Centre Pvt Ltd were the top two donors through trusts in 2021-22 – GMR Hyderabad International Airport, a top donor through trusts in 2021-22, did not figure in the list of EB donors – In 2020-21, the top eight donors of electoral trusts had all donated through electoral bonds – |
| In 2019-2020, among the top 10 donors for electoral trusts, some did not buy EBs – In 2018-2019, some top donors of electoral trusts did not buy EBs – The Electoral Bond Scheme allowed for anonymous donations by individuals and companies to parties – The Supreme Court struck down the scheme on February 15, finding it violative of the Right to Information – |
| The court has ordered State Bank of India to make all data of donors and beneficiaries of EBs public |
