Chicago – March 18, 2024
More than 15 of the top 30 companies that donated to political parties through the now-scrapped electoral bonds scheme were investigated by the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and Income Tax department.
The investigations into these companies have varied in intensity, ranging from case filings to raids on their premises. Some firms also had their assets attached by the Enforcement Directorate.
Among the entities that were investigated by central agencies are Future Gaming and Hotel Services, Megha Engineering and Infrastructure Limited, Haldia Energy Limited, Vedanta Limited, Yashoda Super Speciality Hospital, DLF Commercial Developers Limited, Jindal Steel and Power Limited, Chennai Greenwoods Private Limited, Dr Reddy’s Laboratories Limited, IFB Agro Limited, NCC Limited, Divi S Laboratory Limited, United Phosphorus India Limited, and Aurobindo Pharma.
Finance Minister Nirmala Sitharaman, speaking at the India Today Conclave, said the link between probe agency raids and firms purchasing election bonds were based on “assumptions”.
“This narrative is based on huge assumptions that the money was given after the raids happened,” Sitharaman said. “It may also be that the money was given earlier, and despite that, we went knocking at their doors,” she said.
The biggest receiver of electoral bonds was BJP with 7000 crore, followed by West Bengal’s ruling party Trinamool Congress ( ₹1,397 crore), Congress ( ₹1,334 crore) and Bharat Rashtra Samithi ( ₹1,322 crore), according to the latest data shared by the EC.
