(MENAFN- Live Mint) "Political parties have received more than ₹4,000 crore in donations from companies under the legal scanner over the past four years. Data shared by the Election Commission indicate that at least 14 leading Indian organisations purchased electoral bonds as the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) knocked on their doors. The newly released information has also sparked 'quid pro quo' allegations from the Opposition ranks with some pointing out that companies had secured major tenders soon after their contribution Gaming and Hotel Services leads the electoral bond donors list with a contribution of ₹1,368 crore between 2019 and 2024. This is followed by Megha Engineering and Infrastructure Ltd (MEIL), which made a cumulative donation of ₹966 crore, followed by Qwik Supply Chain Private Ltd ( ₹410 crore).The BJP received funding of over ₹6,060 crore via electoral bonds, while the TMC got ₹1,609 crore and the Congress secured ₹1,421 crore. Finance Minister Nirmala Sitharaman, however, insisted that huge \"assumptions\" had been made after the release of data.
“I think you've based yourself on huge assumptions, that the money was given after the Enforcement Directorate raid happened,” she asserted companies donated funds while facing an investigation?According to the data released by the Election Commission, at least 14 out of 30 top donors are facing probes by the ED, CBI and the Income Tax department.
Future Gaming and Hotel Services - ₹1,368 croreThe ED launched a money laundering probe against the company in early 2019. The probe agency attached assets worth nearly ₹410 crore of the lottery company at the beginning of April 2022. It alleged that Future Gaming and its sub-distributors had illegally retained unsold lottery tickets and claimed top prizes in the pre-GST years. The company made its first electoral bond donation in October 2020. Donations continued through much of the next three years with records indicating a purchase on April 7, 2022 - five days after the attachment of assets.
According to reports, Santiago Martin - dubbed the 'Lottery King' - and his company have been subject to several investigations on suspicion of unpaid income tax, money laundering and fraud since 2011 READ: Electoral bonds data: All about top donor Future Gaming and Hotel Services Pvt Ltd with ₹1,368 crore contributionMegha Engineering and Infrastructure Ltd - ₹966 croreThe company led by Telugu businessman Krishna Reddy faced extensive raids from the Income Tax department in October 2019 and also faces an ED probe. It made its first donation in April 2019 and had expended ₹966 crore by October 2023.
SBI data also shows significant donations from three companies associated with Megha Engineering - totalling ₹1,200 crore. Western UP Power Transmission Company Limited donated ₹220 crore while SEPC Power donated ₹40 crore and EveyTrans Private Limited purchased bonds worth ₹6 crore MEIL has also come under scrutiny for securing the ambitious Thane-Borivali twin tunnel project in Mumbai for a total bid of ₹14,400 crore in April 2023 READ: Electoral bonds data: Who is behind Megha Engineering? Telangana firm that donated over ₹960 cr to political partiesVedanta Ltd - ₹400 croreThe Anil Agarwal-led metals and mining conglomerate has been linked to a bribe-for-visa case since 2018. Vedanta subsidiary Talwandi Sabo Power Ltd was raided by the ED in connection with the money laundering probe in August 2022. A CBI FIR was registered against Congress MP Karti Chidambaram in May 2022 amid assertions that he accepted a bribe of ₹50 lakh from the Vedanta Group to ensure visas for around 300 Chinese nationals. The probe agency had reportedly claimed to have evidence of the company's involvement in the case. A chargesheet was filed against Chidambaram at the end of February this year.
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