Electoral Bonds Data: Out of Top 30 Donors, 14 Were Raided by Probe Agencies

Data released by the ECI reveals action by ED, CBI, and IT officials on at least 14 out of top 30 donor companies.

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At least 14 out of the top 30 companies which purchased electoral bonds from 12 April 2019 to 24 January 2024 faced action by central or state probe agencies, revealed data from the State Bank of India released by the Election Commission (EC).

Details of these companies are mentioned below:

• Future Gaming and Hotel Services: The firm donated Rs 1368 crore between 27 October 2020 and 5 October 2023.  In 2022, Enforcement Directorate (ED) attached assets of the company and its various sub-distributors worth over Rs 409 crore in a money laundering case.

• Megha Engineering and Infrastructure Limited: In October 2019, the Income Tax department carried out raids at multiple offices of Telugu tycoon Krishna Reddy’s Megha Engineering Infrastructure Limited (MEIL) in Hyderabad and other cities. Since then, the company has donated Rs 966 crore in electoral bonds.

• Haldia Energy Limited: The firm donated Rs 377 crore in electoral bonds. It faced action by the Central Bureau of Investigation in March 2020.

• Vedanta Limited: A Vedanta Group company Talwandi Sabo Power Ltd (TSPL) was raided by the ED in connection with a money laundering probe in August 2022. The group has collectively donated Rs 400 crore in electoral bonds.

• Yashoda Super Speciality Hospital: The corporate hospital chain was raided by Income Tax (IT) officials in December 2020. It donated Rs 162 crore in electoral bonds in October 2021.

• DLF Commercial Developers Limited: The realty developer company donated Rs 130 crore in electoral bonds. It was raided by CBI officials in January 2019 over alleged irregularities in allocation of land. Again, in November 2023, the ED searched its Gurugram offices in connection with an investigation against real estate firm Supertech.

• Jindal Steel and Power Limited: In April 2022, ED searched premises of JSPL in connection with a probe linked to alleged violation of foreign exchange regulations. The company donated a total of Rs 123 crore in electoral bonds.

• Chennai Greenwoods Private Limited: Construction firm Chennai Greenwoods Private Limited was raided by Income Tax officials in July 2021. In January 2022, it donated Rs 105 crore in electoral bonds.

• Dr Reddy's Laboratories Limited: In November 2023, IT officials conducted raids on Dr K Nagender Reddy of Dr Reddy's Laboratories over allegations of tax evasion. This was part of a larger operation involving searches at the premises of Telangana Education Minister Sabitha Indra Reddy. Dr Reddy's Laboratories had till then made donations worth Rs 80 crore in electoral bonds.

• IFB Agro Limited: In June 2020, IFB Agro, one of India’s biggest distiller and spirit-makers, alleged that the Kolkata Zonal Unit of the Directorate General of Goods and Services Tax Intelligences (DGGST) raided the company's Noorpur plant. In 2023, a senior company executive claimed that it donated Rs 40 crore in electoral bonds 'as per our instructions from the government.' As per data released by the EC, IBF Agro has donated a total of Rs 92 crore in electoral bonds. The company was in the eye of a storm when its Noorpur plant was attacked in 2020. The then West Bengal governor Jagdeep Dhankhar had stepped in and told the TMC government to create a conducive climate for investment in the state.

• NCC Limited: The Hyderabad-based firm has donated Rs 60 crore in electoral bonds. The Income Tax department had conducted raids on the company in November 2022 over allegations of tax evasion.

• Divi S Laboratory Limited: Hyderabad-based Divi's Laboratory faced IT Action in February 2019. The company has since donated Rs 55 crore in electoral bonds.

• United Phosphorus India Limited: The IT department conducted raids at offices and premises of UPL in January 2020. The company has donated Rs 50 crore in electoral bonds.

• Aurobindo Pharma: The Enforcement Directorate, in November 2022, arrested Sarath Reddy, Director of Aurobindo Pharma in connection with a money laundering probe related to the alleged Delhi liquor policy scam. The firm had previously donated Rs 1.6 crore in electoral bonds.