The Aryavarth Express
Agency (Mumbai): According to official data released by the Indian government, some of the country’s largest corporations were among the top buyers of electoral bonds, a political funding mechanism that has since been scrapped by the Supreme Court for being “unconstitutional.”
The electoral bond system allowed companies and individuals to anonymously donate unlimited amounts to political parties through the purchase of bonds from the State Bank of India. The data shows that the top 10 buyers of these bonds were:
1. Future Gaming and Hotel Services – 1,368 crore rupees
2. Megha Engineering and Infrastructures Ltd – 966 crore rupees
3. Qwik Supply Chain Private Ltd – 410 crore rupees
4. Vedanta Ltd – 401 crore rupees
5. Haldia Energy Ltd (RP-Sanjiv Goenka Group) – 377 crore rupees
6. Essel Mining and Industries Ltd (Aditya Birla Group) – 225 crore rupees
7. Western UP Power Transmission Co Ltd – 220 crore rupees
8. Bharti Airtel Ltd – 198 crore rupees
9. Keventer Food park Infra Ltd – 195 crore rupees
10. MKJ Enterprises Ltd – 192 crore rupees
The data highlights the significant influence of corporate interests in Indian politics, with some of the country’s largest conglomerates being major donors to political parties. The Supreme Court’s decision to ban the electoral bond system has been seen as a setback for the ruling Bharatiya Janata Party (BJP), which was the largest beneficiary of the bonds, receiving 55% of the total donations.
The release of this data comes just weeks before India is expected to hold its next general election, underscoring the ongoing debates around transparency and the role of money in the country’s political process.