होम Politics Top Buyers Invest Crores in Electoral Bonds

Top Buyers Invest Crores in Electoral Bonds

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Overview:
The Electoral Bonds scheme, facilitating undisclosed donations to political parties, has seen the top three buyers collectively invest a whopping 2,744 crores. The Election Commission’s website released a report naming notable buyers like Steel King Lakshmi Mittal, Bharati Airtel by Sunil Mittal, Vedanta Ltd. by Anil Agarwal, ITC, and Mahindra & Mahindra.

Supreme Court’s Orders and Transparency

Following orders from the Supreme Court, the Election Commission, upon receiving information from SBI on Wednesday, released the full report on its website a day before the court’s deadline of March 15. The detailed report is divided into two parts: the first part lists the buyers and the amount of bonds purchased, while the second part lists the parties that encashed these bonds.

Noteworthy Figures

According to the ADAR report:

  • A total of 28,030 electoral bonds worth 16,518 crores were sold.
  • BJP received 6,566 crores in donations.
  • Congress received 1,123 crores (from March 2018 to January 2024).
  • Future Gaming and Hotel Services purchased the highest bonds worth 1,368 crores.

Top 10 Buyers

Top Buyers Invest Crores in Electoral Bonds
  1. Future Gaming and Hotel Services – 1,368 crores
  2. Megha Engineering and Infrastructure – 966 crores
  3. Quick Supply Chain – 410 crores
  4. Vedanta Ltd. – 398 crores
  5. Haldia Energy Ltd. – 377 crores
  6. Bharti Group – 247 crores
  7. Essel Mining and Industries – 224 crores
  8. Western UP Power Transmission – 220 crores
  9. Caventer Foodpark Infra Ltd. – 195 crores
  10. Madan Lal Ltd. – 185 crores

Notable Buyers and Encashment

Major buyers include SpiceJet, IndiGo, Grasim Industries, Megha Engineering, Piramal Enterprises, Torrent Power, Bharti Airtel, DLF Commercial Developers, Vedanta Limited, Apollo Tyres, Adani Enterprises, PVR, among others. Additionally, Covenantor, Sula Vineyards, Wellspring, Sun Pharma, Vardhman Textiles, Jindal Group, Philips Carbon Black Ltd., CEAT Tyres, Dr. Reddy’s Laboratories, ITC, KP Enterprises, Cipla, and UltraTech Cement have also made substantial bond purchases.

Parties Encashing Bonds

Parties such as BJP, Congress, AIDMK, BRS, Shiv Sena, TDP, YSR Congress, DMK, JD-S, NCP, Trinamool Congress, JD(U), RJD, AAP, Samajwadi Party are among those encashing bonds. Additionally, Jammu and Kashmir National Conference, BJD, Goa Forward Party, Maharashtra Gomantak Party, Sikkim Krantikari Morcha, JMM, Sikkim Democratic Front, and Jan Sena Party are included.

Lack of Details on Encashment

The report lacks details on which party encashed which bond, leaving the exact distribution unclear. However, it is noteworthy that BJP received the largest share of funds, accounting for nearly 80% of the total donations.

Notable Individual Investments

  • Yashoda Super Specialty Hospital in Ghaziabad purchased 162 bonds, mostly valued at 1 crore each.
  • Bajaj Auto invested 18 crores, Bajaj Finance 20 crores, and three companies under IndiGo purchased 36 crores. SpiceJet invested 65 lakh, while Rahul Bhatia of IndiGo bought bonds worth 20 crores.
  • Quick Supply Chain Pvt Ltd in Mumbai bought bonds worth 410 crores, and Haldia Energy invested 377 crores.

Congress and SP Cash on Party President’s Name

Most bonds were issued under the names of party presidents, with Congress and Samajwadi Party receiving funds under the designations of ‘President, All India Congress Committee’ and ‘President, Samajwadi Party’, respectively.

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