Electoral Bond Donations Revealed Ahead of General Elections Announcement

Just ahead of the announcement of the schedule for the upcoming General Elections, the Election Commission of India revealed the details of electoral bond donations made between April 2019 and January 2024. Future Gaming and Hotel Services PR, led by well-known lottery magnate Santiago Martin, was found to have donated a significant sum of ₹1,368 crores through electoral bonds during this period. This firm had faced scrutiny from the Enforcement Directorate and had funds frozen in March 2022 for alleged money laundering activities under the Prevention of Money Laundering Act.

Among political parties, the Bharatiya Janata Party emerged as the highest recipient of electoral bonds, garnering over 47.5% of the total bonds encashed by parties. The All India Trinamool Congress, Congress, Bharat Rashtra Samithi, Biju Janata Dal, and Dravida Munnetra Kazhagam were also among the top recipients of these funds during the mentioned time frame.

Additionally, other major donors in the list included Megha Engineering and Infrastructures Limited, Qwik Supply Chain Private Limited, Haldia Energy Limited, Vedanta Limited, Essel Mining and Industries Limited, Western UP Power Transmission Company Limited, Bharti Airtel Limited, and Keventer Foodpark Infra Ltd. Notable buyers of electoral bonds were Grasim Industries, Piramal Enterprises, Torrent Power, DLF Commercial Developers, Apollo Tyres, and several others.

The unveiling of this data by the Election Commission of India came after the Supreme Court had deemed the electoral bonds scheme unconstitutional. The State Bank of India provided the data to the ECI as directed by the court, leading to the revelation of significant financial transactions in the political landscape.

As political parties gear up for the upcoming elections, the details of electoral bond donations shed light on the financial dynamics at play, raising questions about transparency and accountability in political funding. This development coincides with the ongoing candidate announcements and preparations for a crucial electoral season across the country, including in regions like Jammu and Kashmir.