EC releases electoral bonds data, billionaire tycoons to lesser-known entities among buyers

NEW DELHI — 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 INR 1,350 crore under two different sets of companies.

Among the known corporates, Agarwal’s Vedanta Ltd bought INR 398 crore worth of bonds, while Sunil Mittal’s three companies together purchased a total of INR 246 crore worth of bonds.

Steel magnate Lakshmi Niwas Mittal bought INR 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 INR 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 March 12.

The top court had given the Election Commission time till 5 pm of March 15 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 April 1, 2019 and February 15 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.

In a landmark verdict delivered on February 15, a five-judge Constitution bench had scrapped the Centre’s electoral bonds scheme that allowed anonymous political funding, calling it “unconstitutional” and ordered disclosure by the EC of donors, the amount donated by them and the recipients.

Besides Lakshmi Niwas Mittal, individuals who donated through electoral bonds included Kiran Mazumdar Shaw, Varun Gupta, B K Goenka, Jainendra Shah and one person going by only first name of Monika.

Ghaziabad-based Yashoda Super Speciality Hospital purchased 162 bonds, mostly of INR 1 crore each.

Bajaj Auto bought bonds worth INR 18 crore, Bajaj Finance INR 20 crore, three IndiGo firms INR 36 crore, Spicejet INR 65 lakh, and Rahul Bhatia of IndiGo bought bonds worth INR 20 crore.

Mumbai-based Qwik Supply Chain Pvt Ltd bought bonds worth INR 410 crore and Haldia Energy INR 377 crore.

According to a report by the Association of Democratic Reforms (ADR), a total of 28,030 electoral bonds worth INR 16,518 crore have been sold from March 2018 to January 2024.

The BJP has received the highest contributions through the electoral bonds amounting to INR 6,566 crore or 54.77 per cent, followed by the Congress with INR 1,123 crore or 9.37 per cent, Trinamool Congress INR 1,092 crore or 9.11 per cent, it had revealed.