New Delhi:

The Bharatiya Janata Party was the largest beneficiary of electoral bonds between April 2019 and January 2024 – companies donated Rs 5,594 crore in that period – the Election Commission of India said this week. The BJP pocketed over three times the amount (Rs 1,592 crore) the Trinamool Congress took home and more than four times the amount donated to its arch-rivals Congress (Rs 1,351 crore).

Fourth on the list was former Telangana Chief Minister K Chandrashekar Rao’s Bharat Rashtra Samithi, which was dumped out of power by the Congress in November; the BRS got Rs 1,191 crore.

Odisha’s Biju Janata Dal, the Dravida Munnetra Kazhagam from Tamil Nadu, and the YSR Congress Party and Telugu Desam Party from Andhra Pradesh are next on the list; the BJD got Rs 775 crore and the DMK got Rs 632 crore, while the TDP raked in Rs 211 crore and the YSRCP Rs 128 crore.

The last big name on the list is the Aam Aadmi Party, which got Rs 65 crore via electoral bonds.

READ | Electoral Bonds Codes Out, Donors Can Be Matched With Parties

Exactly how much each party received through the contentious electoral bonds – in a landmark verdict last month the Supreme Court called the scheme “unconstitutional” – has come to light after the State Bank of India released the alphanumeric codes that match donors to parties.

The SBI – hauled up by the court for first appearing to delay release of electoral bonds data and then neglecting to provide matching codes – submitted the data to the Election Commission on Thursday.

Under the rules, the SBI was the only bank allowed to issue electoral bonds; this, of course, was only till the top court ordered the scheme be scrapped and the public sector bank to stop selling bonds.

Earlier the SBI had released two lists – one of donors and the other of receiving political parties – but without the codes it was not possible to see which donor had given how much to which party.

What was apparent then was that companies like Megha Engineering & Infrastructure Ltd., Qwik Supply Chain Pvt. Ltd., Vedanta, and the Bharti Group were among the top corporate donors.

How Much Did BJP Get From Electoral Bonds?

With the codes, it is now clear the BJP received Rs 584 crore from Megha Engineering & Infrastructure Ltd., and Rs 375 crore from Qwik Supply Chain. Vedanta donated Rs 226 crore and Airtel Rs 183 crore. Other major donors included real estate giants DLF, which gave Rs 133 crore.

Also, Hyderabad-based Navayuga Engineering Company Ltd. – building the tunnel in Uttarakhand’s Silkyara, a portion of which collapsed last year – purchased Rs 55 crore worth of bonds for the BJP.

READ | Firm Building Uttarakhand Tunnel That Collapsed Gave 55 Crore To BJP

How Much Did Trinamool Get From Electoral Bonds?

The party second on the list of beneficiaries – Mamata Banerjee’s Trinamool – received Rs 542 crore from Future Gaming & Hotel Services Pvt. Ltd., which is a Coimbatore-based lottery company. It is owned by a Colombian businessman called Santiago Martin, who runs lottery companies worldwide.

READ | Electoral Bonds: Trinamool Biggest Beneficiary Of ‘Lottery King’ Donor

Future Gaming is, in fact, the biggest buyer of electoral bonds; it has donated Rs 1,368 crore between April 2019 and January 2024. The company was in the headlines in July 2019 after the Enforcement Directorate attached assets worth Rs 250 crore in an alleged money laundering scam.

Besides Trinamool, Future Gaming also gave Rs 509 crore to the DMK and around Rs 160 crore to the YSR Congress Party, as well as Rs 100 crore to BJP, the data showed.

Meanwhile, the Trinamool Congress also received Rs 281 crore from Haldia Energy and Rs 90 crore from Dhariwal Infrastructure Pvt. Ltd. IFB Agro Industries Ltd., a beverage company with its office in Kolkata, donated Rs 42 crore. Chennai Green Woods, a real estate firm, gave Rs 40 crore.

How Much Did Congress Get From Electoral Bonds?

Meanwhile, the Congress – which today saw the Delhi High Court reject its challenge to re-assessment proceedings by the Income Tax Department – received Rs 110 crore in bonds from Western UP Power Transmission Company Ltd., a Ghaziabad-based firm.

It also received bonds from Vedanta – Rs 104 crore.

MKJ Enterprises, described as a “pioneer in the stainless steel business in India”, donated Rs 69 crore. Yashoda Super Speciality Hospital donated Rs 64 crore. Future Gaming donated Rs 50 crore.

The companies on the list of major donors to political parties in India are involved in various business, ranging from construction and manufacturing to mining and real estate. These are sectors where the role of a government is key, whether to make rules or big-ticket decisions, like tax cuts.

New Delhi:

The Supreme Court today came down hard on the State Bank of India for not sharing the complete data on electoral bonds, a scheme that allowed individuals and businesses to donate anonymously to political parties. The court had struck down the scheme and directed the bank to share all details on the donations made in the last 5 years.

Hearing a petition by the Election Commission, the Supreme Court said that the data provided by the Supreme Court was incomplete. The five-judge bench, headed by Chief Justice DY Chandrachud, directed SBI to disclose electoral bond numbers as well, in addition to the details it has already shared.

“Who is appearing for the State Bank of India? They have not disclosed the bond numbers. It has to be disclosed by the State Bank of India,” Chief Justice Chandrachud said right at the outset of the hearing.

In its notice to SBI, the Supreme Court bench has asked the bank to explain the lapse during the next hearing on March 18.

The electoral bond numbers would help establish the link between donors and political parties.

Electoral bonds allowed individuals and businesses to donate money to political parties without declaring it. They were introduced by the BJP government in 2018 as an alternative to cash donations and had been pitched as an initiative to bring transparency in political funding.

The Supreme Court struck down the scheme last month, terming it unconstitutional and over concerns that this could lead to a quid pro quo. The court also urged SBI to share all details about the purchase and redemption of the bonds with the Election Commission.

In its petition, the poll panel said the March 11 order had noted that the copies of the documents submitted by it to the court in a sealed cover during the course of the hearing be maintained at the office of the EC.

The EC said it did not keep any copy of the documents and added that those may be returned so that it can comply with the court’s directions.

The Supreme Court is scheduled to hear on Friday an application filed by the Election Commission seeking modification of the operative portion of its March 11 order in the electoral bonds case.

The poll panel said the order had noted that copies of the documents submitted by it to the Supreme Court in sealed cover during the course of hearing be maintained at the office of the Election Commission. The EC said it did not keep any copy of the documents and added that they may be returned so that it can comply with the court directions.

A separate petition filed by NGO Association for Democratic Reforms challenging the exclusion of the Chief Justice of India from a panel for the selection of the chief election commissioner and election commissioners was also scheduled to come up for hearing on Friday.

However, the matter is not shown in Friday’s list of business on the Supreme Court website.

A bench headed by Justice Sanjiv Khanna on March 12 had told advocate Prashant Bhushan, representing the NGO, that the plea on the exclusion of CJI from the selection panel will be taken up for hearing on Friday.

In the electoral bonds case, the Supreme had on March 11 directed the State Bank of India (SBI) to disclose the details of the bonds to the EC by close of business hours on March 12.

In its fresh application, the poll panel has said the Supreme court had observed in its March 11 order that “copies of the statements which were filed by the ECI before this court would be maintained in the office of the ECI”.

“It is most respectfully submitted herein that in compliance of the orders passed by this court and in order to maintain the confidentiality of the aforesaid information /data, the Election Commission of India forwarded the documents received by it to this court in sealed covers/boxes, without retaining any copies of the same,” the application said.

“Thus, no copies of the documents/statements filed by the Election Commission of India before this court in the instant case were ever retained by it,” it said.

In its application, the EC has urged the Supreme that the portion of March 11 order may be rectified or modified and the documents, data or information submitted by it before the court in sealed covers may be returned to it to enable the poll panel to comply with the court’s directions.

The application said pursuant to the directions passed by the Supreme Court in its April 12, 2019 and November 2 last year orders, the EC had produced information/data so sought, both in a sealed cover (containing 106 sealed envelopes) and in sealed boxes (containing 309 and 214 sealed envelopes respectively).

On April 12, 2019, the Supreme Court had issued an interim order directing that the information of donations received and donations which will be received must be submitted by political parties to the EC in a sealed cover.

A five-judge Constitution bench headed by Chief Justice D Y Chandrachud is scheduled to hear the EC’s application on Friday.

In its March 11 order, the top court dismissed SBI’s plea seeking an extension of time and ordered it to disclose the details of electoral bonds to the EC by close of business hours on March 12.

The court had also directed the EC to publish the details shared by the bank on its official website by 5 pm on March 15.

The Election Commission put up on its website the data on electoral bonds on Thursday, a day before the deadline. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

New Delhi:

The State Bank of India on Tuesday evening submitted data about electoral bonds to the Election Commission of India, in line with a stern order from the Supreme Court. The data will be collated and released by the poll panel by 5 pm Friday, as the court had ordered. The bank’s Chairman and Managing Director, however, has not yet filed the affidavit confirming compliance with the court order.

The affidavit, NDTV has been told, is ready and will be submitted to the court Wednesday.

The Supreme Court on Monday nixed a plea by the State Bank of India – the country’s largest bank – to extend the March 6 deadline to release this data. A bench led by Chief Justice DY Chandrachud came down strongly on the bank for “willful disobedience” of orders, and warned it of contempt proceedings.

“While we are not inclined to exercise contempt jurisdiction at this time, we place SBI on notice that this court may be inclined to proceed against it for willful disobedience if it does not comply with directions by timelines indicated in this order,” the court had said.

READ | “Disclose Electoral Bonds’ Data By Tomorrow”: Court Junks SBI Plea

The bank argued it would take considerable time to collect, cross-check and release the data, which was stored in two “silos” to maintain confidentiality of both sides. “We need a little more time to comply. We were told this is supposed to be a secret,” the bank said, and asked for time till June 30.

READ | Matching Donor Details Takes Time, SBI Tells Supreme Court

That deadline is well past the completion of the 2024 general election.

In response the Supreme Court pointed out donor details were available at the SBI’s Mumbai branch, and the bank just had to “open covers, collate details and give information”. “We had not told you to do the matching exercise. We have asked you for a plain disclosure,” the Chief Justice rapped SBI.

Last month, in a landmark verdict, the Supreme Court held the electoral bond scheme to be “unconstitutional” and said it violated citizens’ right to information. The SBI had been directed to reveal data by March 6 and the poll panel to make this information public by March 13.

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New Delhi:

The Supreme Court on Monday came down strongly on the State Bank of India for “wilful disobedience” of last month’s order – that data about donors and recipients of electoral bonds be released by March 6.

In a significant development, the court warned SBI of contempt proceedings if it failed to release this data by close of business tomorrow. The court also directed the Chairman and Managing Director of SBI – India’s largest bank, with a 23 per cent market share – to file an affidavit after compliance.

“While we are not inclined to exercise contempt jurisdiction at this time, we place SBI on notice that this court may be inclined to proceed against it for wilful disobedience if it does not comply with directions by timelines indicated in this order,” the court said.

A bench led by Chief Justice DY Chandrachud also directed the Election Commission of India to collect and publish all electoral bonds data on its website by 5 pm Friday.

READ | “Disclose Electoral Bonds’ Details By Tomorrow”: Top Court Rejects SBI Plea

The Supreme Court was hearing a plea by the SBI to extend a March 6 deadline to release all information about electoral bonds – donors and recipients. 

The bank argued it would take considerable time to collect, cross-check and release the data, which was stored in two “silos” to maintain confidentiality of both sides. “We need a little more time to comply. We were told this is supposed to be a secret.”

The bank had asked for time till June 30, which would be well after the general election.

READ | Matching Donor Details Takes Time, SBI Tells Supreme Court

In response the court pointed out donor details were available at the SBI’s Mumbai branch, and the bank just had to “open covers, collate details and give information”. The Chief Justice then asked the bank what work had been completed since its original order – 26 days ago. “Please tell what matching you have done in the last 26 days. There is a degree of candour expected from SBI…” he remarked.

READ | SBI Plea For Time To Submit Poll Bonds Info Dismissed: What Top Court Said

The court today also heard a pleas by the Association for Democratic Reform, or ADR, which was among the original challengers to the electoral bonds scheme launched by the government in 2017. It was to allow individuals and groups, including corporates, to make political donations with absolute anonymity.

The ADR had sought contempt action against the State Bank of India for “wilfully and deliberately” disobeyed the court’s order in this matter. The ADR claimed the extension was to obscure details of donors and donations before the April/May Lok Sabah election.

“It is submitted that the said application is mala fide and demonstrates a wilful and deliberate disobedience and defiance of judgement passed by Constitution bench of this court. It is further a clear attempt to undermine the authority of this court,” it said.

The bank’s request for extension was also criticised by Rajya Sabha MP Kapil Sibal, who called it “puerile”.  He called on the court  to protect its dignity, particularly after a Constitution bench judgement.

READ | “Puerile Reason”: Kapil Sibal After SBI Seeks Extension Over Electoral Bonds

Last month, in a landmark verdict, the Supreme Court held the electoral bond scheme to be “unconstitutional” and said it violated citizens’ right to information. The SBI was directed to reveal all bonds data by March 6 and the poll panel to make this information available to the public by March 13.

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Congress leader Rahul Gandhi.
| Photo Credit: ANI

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