New Delhi, Mar 15: Future Gaming and Hotel Services PR, led by renowned lottery tycoon Santiago Martin, emerged as the foremost contributor to political parties from April 12, 2019, to January 24, 2024, based on data released by the State Bank of India and published by the Election Commission of India on March 14, as mandated by the Supreme Court.
During this timeframe, the firm channelled a substantial sum of ₹1,368 crores through electoral bonds. Notably, the Enforcement Directorate took action in March 2022, attaching ₹411 crore from the firm's bank accounts and initiating legal proceedings under the Prevention of Money Laundering Act, 2002, before the PMLA Court, Kolkata, on September 9, 2023.
Among political entities, the Bharatiya Janata Party (BJP) led in encashing electoral bonds, totaling ₹6,060.5 crore, representing over 47.5% of the total bonds encashed. The All India Trinamool Congress received ₹1,609.50 crore (12.6%), followed by the Congress with ₹1,421.9 crore (11.1%), securing the second and third positions, respectively, in terms of bond encashment.
Other significant recipients included the Bharat Rashtra Samithi (9.5%), Biju Janata Dal (6.1%), and Dravida Munnetra Kazhagam (5%), each encashing over ₹500 crore worth of electoral bonds during the period.
Moreover, a total of 22 entities contributed over ₹100 crore each during this period. Megha Engineering and Infrastructures Limited, based in Hyderabad, ranked second, donating ₹966 crore. Notable names among the top ten donors include Qwik Supply Chain Private Limited (₹410 crore), Haldia Energy Limited (₹377 crore), Vedanta Limited (₹375.65 crore), Essel Mining and Industries Limited (₹224.45 crore), Western UP Power Transmission Company Limited (₹220 crore), Bharti Airtel Limited (₹198 crore), and Keventer Foodpark Infra Ltd (₹195 crore).
Additional prominent buyers of electoral bonds encompassed Grasim Industries, Piramal Enterprises, Torrent Power, DLF Commercial Developers, Apollo Tyres, Lakshmi Mittal, Edelweiss, PVR, Sula Wine, Welspun, and Sun Pharma.
In total, donors purchased electoral bonds exceeding ₹12,155 crore during this period, with political parties encashing over ₹12,769 crore within the same timeframe.
The information pertaining to electoral bonds was disclosed by the ECI on March 14, following SBI's release of the data on March 12, in line with the Supreme Court's directives. The ECI's statement clarified that the data was presented on its website on an "as is where is" basis.
Furthermore, the Supreme Court's order on February 15 invalidated the electoral bonds scheme, deeming it "unconstitutional." Subsequently, the SBI was instructed to furnish all details of purchased bonds since April 12, 2019. Despite SBI's request for an extension until June 30 to reconcile buyer and political party data, the Supreme Court deemed this unnecessary, emphasizing the availability of readily accessible information.
On March 11, the Supreme Court dismissed SBI's plea for an extension and mandated the submission of data to the ECI by March 15. Consequently, the SBI submitted the data on March 12, revealing that 22,217 electoral bonds were issued between April 2019 and February 15, 2024. Of these, political parties redeemed 22,030 bonds, while the remaining 187 were redeemed and the funds deposited in the Prime Minister’s National Relief Fund, adhering to scheme regulations.
