The Aryavarth Express
Agency(New Delhi): The electoral bond scheme, recently phased out, facilitated anonymous corporate contributions to political entities, amounting to several thousands of crores. Notably, amidst this vast flow of capital, there were 132 bonds of Rs 1,000 each, bought by individuals and corporations alike, including the giant ITC Ltd, collectively amounting to Rs 1.32 lakh. This sum represents a mere 0.0001 percent of the total 18,871 bonds worth Rs 12,155 crore, as disclosed by the Election Commission of India.
A significant 96 percent of the total value of all bonds purchased since April 12, 2019, came from 11,671 bonds of the highest Rs 1 crore denomination. These bonds were predominantly acquired by corporates, spanning from well-known to obscure companies, alongside several individuals who purchased multiple high-value bonds. Among these individuals were prominent figures like Lakshmi Niwas Mittal, Kiran Mazumdar Shaw, and Rahul Bhatia, as well as people with more common names such as Saurabh Gupta and Raju Kumar Sharma.
The diversity in bond denominations—ranging from Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, to Rs 1 crore—highlights the varying degrees of financial participation in political funding. Among the purchasers of the lowest denomination were corporate entities like Raipur Bottling Company and Ray Constructions Ltd, and individuals including Abhijeet Soloman Kamble and Poonam Agarwal.
The sales figures of Rs 10,000 bonds stood at 220, constituting less than 0.002 percent of the total value, with buyers being primarily individuals and lesser-known companies, as well as some notable entities like ITC and Geojit Investment Services. Additionally, 2,228 bonds of Rs 1 lakh were purchased, including by an individual known simply as ‘Monika.’ The Rs 10 lakh denomination saw 4,620 bonds purchased, with these and the Rs 1 lakh bonds together making up almost four percent of the total bond value.
This detailed breakdown of electoral bond sales offers insight into the dynamics of political donations in India, illustrating a heavy reliance on high-value contributions, while also acknowledging the participation of a broader demographic through smaller denominations.
