Billionaire tycoons to lesser-known entities among buyers of electoral bonds

From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC and Mahindra and Mahindra were among the prominent buyers of the electoral bonds for making political donations

PTI

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New Delhi, 14 March

 

From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.

 

The Election Commission put up on its website the data on electoral bonds on Thursday, a day ahead of the Supreme Court-fixed deadline. Future Gaming, which was probed by the Enforcement Directorate in March 2022, bought electoral bonds worth over Rs 1,350 crore under two different sets of companies. Among the known corporates, Agarwal's Vedanta Ltd bought Rs 398 crore worth of bonds, while Sunil Mittal's three companies together purchased a total of Rs 246 crore worth of bonds.

 

Steel magnate Lakshmi Niwas Mittal bought Rs 35 crore worth of bonds in his individual capacity. Hyderabad-based Megha Engineering, which has bagged contracts of several large infrastructure projects, bought bonds worth Rs 966 crore.

 

While most of the bonds have been issued in the name of political parties, the donations made to the Congress and the Samajwadi Party were made in the name of 'President, All India Congress Committee' and 'Adyaksha Samajvadi Party'.

 

Following a Supreme Court directive, the State Bank of India, which was the authorised seller of electoral bonds, had shared the data with the poll panel on 12 March. The top court had given the Election Commission time till 5pm of 15 March to upload the data on its website.

 

The EC has put the details on 'Disclosure of Electoral Bonds Submitted by SBI' in two parts -- one listing the buyers and the other listing the beneficiary parties. In an affidavit filed before the Supreme Court, the State Bank of India (SBI) said a total of 22,217 electoral bonds of varying denominations were purchased by donors between 1 April, 2019 and 15 February this year, out of which 22,030 were redeemed by political parties.

 

According to the data uploaded by the poll panel, the buyers of electoral bonds included Spicejet, IndiGo, Grasim Industries, Megha Engineering, Piramal Enterprises, Torrent Power, Bharti Airtel, DLF Commercial Developers, Vedanta Ltd., Apollo Tyres, Edelweiss, PVR, Keventer, Sula Wines, Welspun, Sun Pharma, Vardhman Textiles, Jindal Group, Phillips Carbon Black Limited, CEAT tyres, Dr Reddy's Laboratories, ITC, Kaypee Enterprises, Cipla, and Ultratech Cement.

 

The parties that redeemed electoral bonds include the BJP, Congress, AIADMK, BRS, Shiv Sena, TDP, YSR Congress, DMK, JD-S, NCP, Trinamool Congress, JDU, RJD, AAP, the Samajwadi Party, Jammu and Kashmir National Conference, BJD, Goa Forward Party, Maharashtrawadi Gomantak Party, Sikkim Krantikari Morcha, JMM, Sikkim Democratic Front, and the Jana Sena Party.

 

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