Granular details of the electoral bonds bought by companies across the country emerged with the State Bank of India on March 21, 2024, releasing additional information pertaining to the bond scheme.
From pharmaceutical drugmakers, healthcare providers, infrastructure as well as realty developers to those in educational services, several companies across industries in Telangana and Andhra Pradesh had purchased electoral bonds that were encashed by different political parties.
The bonds, which in effect is the donation totalling several crore rupees made by the companies to the political parties, was not just for the political party in power as the instruments purchased by some of firms was also for parties that even the principal opposition, albeit the sum involved vastly differed and even relatively smaller.
Granular details of the electoral bonds bought by companies across the country emerged with the State Bank of India on March 21, 2024, releasing additional information pertaining to the bond scheme. The Supreme Court earlier this week had asked SBI to make a complete disclosure to the Election Commission of India for publication.
Infrastructure developer Megha Group, which at Rs.1,186 crore, had emerged as the largest purchased on electoral bonds from the region had donated to Bharatiya Janata Party (BJP), Bharat Rashtra Samithi (BRS), Congress and TDP, something that pharma major Dr. Reddy’s Laboratories too did.
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Another company from Hyderabad in the pharma industry, Natco Pharma purchased electoral bonds that were encashed by Congress, BJP, BRS, TDP, Janasena Party and the YSRCP. Aurobindo Pharma, another well known name in the industry, along with its subsidiary Eugia Pharma Specialities purchased bonds totalling Rs.26 crore whose recipient was BJP.
There were also companies the recipient of whose electoral bonds were for one political party. Figuring in this list are pharma company Granules; and vaccine maker Bharat Biotech as well Chiron Behring Vaccines whose bonds were for TDP; while BJP was the recipient of bonds purchased by MSN Laboratories, Hetero, IT firm Cyient and construction firm NCC.
Kitex Garments and another group firm, which hit the headlines after announcing a big investment in textile project in Telangana during the previous BRS regime, purchased bonds that were encashed by BRS, according to the data released by SBI.
Hazelo Labs, Hindys Labs, Inorbit Malls, Welspun, BSCPL Infrastructure, Tellapur Technocity, KNR Constructions, Tsharks Infra Developers, Tsharks Overseas Education and NSL SEZ Hyderabad were among the firms that donated to BRS.
BRS, TDP and Janasena were recipients of the electoral bonds purchased by Sri Chaitanya Students Facility Management, while the bonds bought by Koneru Raviteja went to BRS.
Recipients of the bonds purchased by Sagar Cements were BRS, YSRCP, TDP, Congress and BJP. Rithwik Projects purchased bonds that went to TDP, Congress, JD (Secular). Among firms in the renewable energy space, Mytrah’s electoral bonds were for BRS, Congress and BJP, while those of a few Greenko firms were for YSRCP.
BRS gets ₹1,322 crores worth bonds
The Bharat Rashtra Samiti (BRS) emerged as the fourth largest receiver of funds from the Electoral Bonds in the country pushing aside some of the biggest national parties.
The party received donations to the tune of ₹1,322 crores through electoral bonds and more than half of the donations were received in just four days. It received bonds worth Rs 663 crores in just four days.
As per the details submitted by the State Bank of India to the Election Commission of India, the party received Rs 268 crores on April 12, 2022 while it received ₹92 crores a day before that on April 11, 2022. The party received Rs 218 crores on July 13, 2023 while it received ₹85 crores on October 8, 2021.
Megha Engineering company emerged as the biggest donor purchasing bonds worth ₹201 crores. The party received huge sums from Pharma, Construction and Hospitals like ITC, Raheja, Rajpushpa and Yashoda hospitals.
