Top Donors in Electoral Bonds Scheme Include Reliance-linked Entities, Kotak Mahindra, and Aditya Birla Groups
New Delhi, March 16 (IANS) Bigwigs of corporate India have been revealed to be generous contributors to the Electoral Bonds scheme, as reported by the Reporters’ Collective. Major entities like Reliance, Kotak Mahindra, and the Aditya Birla Group have been identified as contributors to political parties, with details expected to be shared by SBI on Monday.
The data from the EC portal covers funding via electoral bonds from April 12, 2019 to January 2024, totaling Rs 12,769 crore. Qwik Supply Chain Private Limited, linked to Reliance Industries, has emerged as a significant donor, raising eyebrows for its substantial contributions despite not being a listed Reliance Group entity.
The revelations have sparked intrigue in business and political circles, with Qwik Supply Chain reportedly purchasing bonds worth Rs 360 crore in 2021-22 and Rs 50 crore in 2023-24. Another Reliance-backed firm, Honeywell Properties Private Limited, bought bonds worth Rs 30 crore in 2021, adding to the web of connections.
Meanwhile, Sun Pharma Laboratories, Vedanta Group, and Grasim Industries have also made notable contributions, with the Aditya Birla Group emerging as a major donor with various subsidiaries donating significant amounts. Billionaire banker Uday Kotak’s firm, through Infina Finance, has also made substantial bond purchases over multiple years.
The Reporters’ Collective has highlighted interesting findings, such as individual donors like Laxmidas Vallabhdas Merchant and group efforts like the Keventer Group of companies, which collectively contributed around Rs 500 crore. Megha Engineering and Infrastructure Limited, Udaipur-based Wonder Cement, and other lesser-known firms have also made sizable contributions through electoral bonds.
As per Supreme Court guidelines, the list of donors and political parties that redeemed electoral bonds are disclosed on the EC website, including parties like the BJP, Congress, AIADMK, and more. The upcoming release of ‘unique numbers’ by SBI is anticipated to shed further light on the intricate web of contributions and recipients through the Electoral Bonds scheme.
