New Delhi:

Infina Finance, one of the promoter group entities of Kotak Mahindra Bank – currently facing RBI action, had donated electoral bonds worth Rs 60 crore to the BJP.

Infina Finance, owned by the Kotak family, is listed as one of the promoter group entities of Kotak Mahindra Bank. However, it owns no shares in the private sector lender, which the RBI has barred from issuing fresh credit cards.

As per the shareholding data with the BSE, as of March 2024, the promoter and promoter group entities hold a 25.89 per cent stake in Kotak Mahindra Bank.

Uday Kotak is the promoter and single largest shareholder of Kotak Mahindra Bank, with a 25.71 per cent stake. Other promoter group entities hold the remaining 0.18 per cent stake.

The Mumbai-based Infina Finance donated electoral bonds worth Rs 60 crore to the Bharatiya Janata Party (BJP). The NBFC firm purchased these bonds in the denomination of Rs 1 crore in 2019, 2020 and 2021, according to the data given by the State Bank of India (SBI) to the Election Commission. The data was made public last month.

Infina Finance Private Ltd, according to its website, was incorporated in 2008 and is in the business of capital market financing and proprietary trading and investments.

Infina, a non-deposit accepting, systemically important non-banking financial company registered with the RBI, had reported a profit of Rs 105.55 crore in 2022-23. The firm posted a total income of Rs 227.84 crore during the fiscal.

On Wednesday, the Reserve Bank of India (RBI) barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found “serious deficiencies” in the lender’s IT risk management.

These actions, the RBI said, are necessitated based on significant concerns arising out of the Reserve Bank’s IT examination of the bank for the years 2022 and 2023, and its continued failure to address these concerns in a comprehensive and timely manner. 

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

Prime Minister Narendra Modi in Tirunelveli on April 15, 2024.
| Photo Credit: PTI

Country being pushed towards black money; everyone will regret attacking Electoral Bond scheme, says PM Modi

Prime Minister Narendra Modi on April 15 said that the country had been pushed towards black money in elections after the Supreme Court scrapped the electoral bonds scheme, and that on honest reflection, “everyone will regret it”. In his first detailed take on the electoral bond scheme after its scrapping, Mr. Modi in an interview to news agency ANI said that the scheme should also be viewed a success story as it had shown who made contributions to political parties.

Modi and Shah visiting TN to make up for the loss that awaits them in the North, says Stalin

DMK president and Tamil Nadu Chief Minister M.K. Stalin on April 15, in an interview with The Hindu said Prime Minister Narendra Modi and Home Minister Amit Shah had been visiting southern States, particularly Tamil Nadu, to make up for the loss awaiting them in the northern States that used to be their stronghold. Mr. Stalin said the purpose of this election was to decide who should not come to power rather than who should come to power.

Largest ever seizure of inducements before general elections: Election Commission

The Election Commission (EC) on April 15 said it was on track to seize the largest amount of inducements, including drugs and cash during an election in the last 75 years. Even before polling begins for the Lok Sabha elections, it has seized ₹4,650 crore, an amount which is higher than that recovered in the 2019 elections. During the 2019 general elections, ₹3,475 crore had been recovered by the EC.

Denial of pre-certification for poll ads can be challenged only before Supreme Court, not any other court, says ECI

The Madras High Court on Monday directed the Election Commission of India (ECI) to explain the rationale behind its insistence that denial of pre-certification for election advertisements can be challenged only before the Supreme Court and not any other court. Chief Justice Sanjay V. Gangapurwala and Justice J. Sathya Narayana Prasad granted time till Wednesday for the ECI counsel to take instructions after senior counsel R. Shunmugasundaram for DMK argued that the ECI had no right to take away the writ jurisdiction of the High Courts.

Centre removed free movement regime along India-Myanmar border to thwart conspiracy to change Manipur’s demography, says Amit Shah

Union Home Minister Amit Shah on Monday said that the Narendra Modi-led government had ended the Free Movement Regime (FMR) along the 1,600 km India-Myanmar border to thwart a “conspiracy” to change the demography of Manipur. “No matter how hard anyone tries, we will not let anyone divide Manipur,” he said at a campaign rally in support of the BJP’s Inner Manipur candidate in Imphal.

Taliban is ‘particularly committed’ to protect rights of Hindus and Sikhs: Spokesperson of Taliban ‘Justice Ministry’

The Taliban is in “continuous contact” with the Hindus and Sikhs of Afghanistan who were forced to flee and had their homes taken by warlords, said a senior official of the outfit’s ‘Justice Ministry’ on Monday. In a written statement to The Hindu, the representative said the Taliban will respect the property rights of the minority communities of Afghanistan and that they are “particularly committed” to defending the rights of Hindus and Sikhs in the country.

Singapore PM Lee to step down on May 15, hands over power to deputy Lawrence Wong

Singapore Prime Minister Lee Hsien Loong said Monday that he will step down on May 15 after two decades at the helm, and hand power to his deputy Lawrence Wong. Mr. Lee, 72, will formally advise the city-state’s president to appoint Mr. Wong, who is currently deputy Prime Minister and Finance Minister, to succeed him, his office said in a brief statement. Mr. Wong, who has the unanimous support of lawmakers in the long-ruling People’s Action Party, will be sworn in at the national palace later the same day, it said.

Europe joins U.S. in urging restraint by Israel after Iranian attack

Israel’s European allies urged the administration on April 15 to show restraint over Iran’s weekend missile and drone attack, calling on Israeli leaders to step away from “the edge of the cliff” of escalation in West Asia. Israeli Prime Minister Benjamin Netanyahu’s war Cabinet, which is empowered to decide on the country’s response, was set to convene on April 15 afternoon, a government source said.

Former England spinner Derek Underwood passes away

Derek Underwood, England’s best spinner in the post-World War II era, who gave a torrid time to the legendary Sunil Gavaskar, passed away at Kent on April 15. He was 78. Underwood, a practitioner of slow left-arm orthodox spin, was highly regarded by his contemporaries because of his pin-point accuracy, something which made him ‘Deadly’ on uncovered pitches of the 60s and 70s.

IPL-17: RCB vs SRH | Sunrisers win by 25 runs in highest-scoring match in T20 history

Travis Head’s destructive hundred fused splendidly with skipper Pat Cummins’ resolve as Sunrisers Hyderabad registered a well-crafted 25-run victory over Royal Challengers Bengaluru in a high-scoring affair. Head’s maiden T20 hundred (102, 41b, 9×4, 8×6) and Heinrich Klaasen’s pillaging 67 (31b, 2×4, 7×6) drove Sunrisers to a record-breaking 287 for three, also going past their own 277/3 against Mumbai Indians at Hyderabad this March 27.

Twelve of the 20 new companies which bought electoral bonds were from Hyderabad.
| Photo Credit: Akash Dhage/Unsplash

Despite companies in existence for less than three years not being allowed to make political contributions — even through the electoral bonds route — data shows that at least 20 such newly incorporated firms purchased poll bonds worth about ₹103 crore (Table 1).

At the time when they purchased their first electoral bonds, five of these firms were in existence for less than a year, seven of them were a year old and the eight others had only completed two years. Notably, many of these firms were started in 2019 when the Indian economy went through recession or during the middle of the pandemic and bought electoral bonds worth crores of rupees just months after incorporation.

Also read: Electoral bonds data | Full list of donors and recipient political parties

The ban on companies making political contributions within three years from incorporation has been in existence for nearly four decades. In 1985, the Parliament amended Section 293A, lifting the ban on political contributions by firms subject to a few conditions. One of the conditions was that the firms should not be owned by the government and should not be less than three years old. This clause was retained under Section 182 of the Companies Act, 2013. When Section 154 of the Finance Act, 2017, amended Section 182, just before the introduction of electoral bonds, this clause was again retained. However, the amendment deleted the first proviso by which the amount donated by a company was capped at 7.5% of its average net profit during its previous three financial years. The prohibition on companies making donations to political parties in their first three years continued. According to Section 182 of the Companies Act 2013, if a firm makes a donation in contravention to the provisions, “the company shall be punishable with fine which may extend to five times the amount so contributed and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months and with fine which may extend to five times the amount so contributed”.

Table 1 | The table shows the names of the 20 firms which purchased the electoral bonds (EBs), within three years of their incorporation. The date of incorporation of these companies, the date on which they purchased their first poll bond, the difference between the two dates along with the total worth of bonds purchased by these firms is mentioned in the table. 

Table appears incomplete? Click to remove AMP mode

Also read: Electoral bonds data | 55 firms’ purchase exceeded 7.5% cap in 2022-24, lion’s share went to BJP

12 of these 20 companies were headquartered in Hyderabad (Table 2). Together these 12 companies donated ₹37.5 crores, and close to 75% of which was encashed by the BRS, with the rest divided among the TDP, the Congress and the BJP. Two companies in Hyderabad — Tsharks Infra Developers Private Limited and Tsharks Overseas Education Consultancy Private Limited — both incorporated in 2023 — purchased ₹7.5 crore worth of bonds within months of getting incorporated and donated it to the BRS. Among the rest, HH Iron and Steel Private Limited, headquartered in Coimbatore, gave ₹15 crores to the BJP and five crores to the BJD. Their first electoral bond purchase was done just days short of turning three years old. Askus Logistics Private Limited, incorporated in November 2021, bought its first electoral bond within 1.5 years of its incorporation and donated ₹22 crores. This was encashed by the DMK, AITC and the RJD. Besseggen Infotech LLP, incorporated in May 2018, bought bonds worth ₹11.5 crores, with their first purchase done two years and ten months into their existence.

Table 2 | The table shows the city-wise split of the 20 companies.

Table 3 | The table shows the party-wise split of the encashments of the EBs purchased by the 20 companies.

Electoral bonds data | New firms bought crores of electoral bonds within months of formation

The three-year rule was retained to prevent shell companies from making political contributions. When the first proviso, which prescribed the 7.5% cap, was removed in 2017, the Election Commission of India had warned that this may lead to the use of “black money through shell companies”. The RBI had also flagged the possibility of firms misusing bearer bonds for money laundering.

The list of 20 firms is not exhaustive as it does not include the firms which were newly incorporated after mergers and amalgamations. The list also does not include firms that are not in the MCA

With inputs from Rebecca Rose Varghese

Watch our Data video:Electoral bonds banned: Which party benefitted the most while it existed?

New Delhi:

Weeks after it was pulled up by the Supreme Court on the electoral bonds issue, the State Bank of India has refused to reveal details of the Standard Operating Procedures issued to its branches regarding sale and redemption of bonds under the now-scrapped scheme.

Transparency activist Anjali Bhardwaj had filed a petition under Right To Information (RTI) Act, seeking information about the SOPs laid down by the bank for the electoral bonds scheme.

In a response by SBI’s Deputy General Manager M Kanna Babu, the bank has said the SOPs were internal guidelines and information regarding them are exempted from disclosure under the Section 8(1)(d) of the RTI law.

This section relates to “information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information”.

The petitioner has said in a statement that the state-run bank has “blandly invoked the exemption clause without demonstrating how the disclosure would ‘harm the competitive position of a third party’. The denial will be challenged in appeal, she has said.

The development comes weeks after the Supreme Court pulled up SBI for the delay in sharing details of electoral bonds with the Election Commission of India. Following the landmark verdict in February that scrapped the poll bonds scheme, the bank had sought three months’ time to share the data. The court, however, refused its request and asked them to make the data public within two days. The court also warned that it will initiate contempt proceedings against the bank if it did not disclose the data at the earliest.

Soon after the bank shared the data, it came in for another round of reprimand from the court. The court asked why the bank had not disclosed the bond numbers. Thereafter, the bank shared the details and filed an affidavit declaring that it had disclosed all information related to the poll bonds scheme.

In its February 15 judgment, the Supreme Court scrapped the electoral bonds scheme on the grounds that it violates the citizens’ right to information. The scheme, Chief Justice of India DY Chandrachud said, was unconstitutional and arbitrary and may lead to a quid pro quo arrangement between political parties and donors.

The Constitution bench of five judges held that the stated objective of fighting black money and maintaining the confidentiality of donors cannot defend the scheme. Electoral bonds, the court said, are not the only way to curb black money.

Nagpur:

Avowing abiding confidence in Prime Minister Narendra Modi’s goal of 370 seats, BJP leader Nitin Gadkari says the additional seats to its current strength of 288 will come from gains in southern India in the upcoming Lok Sabha elections.

In a wide-ranging interview with the news agency PTI at his residence in Nagpur, Mr Gadkari said there is “no doubt” in his mind that the BJP-led NDA will cross 400 seats and that Narendra Modi will take over as prime minister for a third term because of the solid work done by the government in the last 10 years.

He dismissed allegations that the Modi government is “weaponising” central probe agencies such as the Enforcement Directorate and CBI to weaken the opposition, saying BJP’s rivals should make efforts to overcome adversity by winning the confidence of the people.

“Is it our responsibility to make the opposition weak or strong? When we had just two MPs and were weak, we never got any package out of sympathy,” Mr Gadkari, who is seeking a third Lok Sabha term from Nagpur, said.

Mr Gadkari launched his campaign with a massive road show on Saturday through Nagpur, his motorcade crawling through a sea of supporters who withstood 40 degrees Celsius temperature to welcome the local hero. The programme, which was to take two hours ended four hours later as supporters covered him with gulal and insisted on offering him snacks every time he stopped.

Mr Gadkari said the BJP emerged stronger over the years due to the sheer hard work of its workers and the opposition too has to make efforts to earn the people’s confidence.

“The nature of democracy is such that this keeps changing. Whatever role you play, you always have to make efforts and overcome adversity. This is important for any opposition party,” he said.

He was also asked to explain the arithmetic of 370 seats for BJP and more than 400 seats for the National Democratic Alliance, given that they have already maxed out in their stronghold states.

“There is no need to make a state-wise analysis. This time we will taste success in the South. The work we have done in the south and the northeast over the last 10 years under Prime Minister Modi’s leadership… we have started getting results of the same,” he said.

“We have worked hard in Tamil Nadu, Kerala, Telangana, Andhra Pradesh and Karnataka. We had very little presence in these states. This time we will do well in Telangana and Andhra Pradesh. We have been performing well in north India. So, I feel the BJP will alone get 370 seats and the NDA will cross 400,” Mr Gadkari said.

The senior BJP leader said the people of the country want to see development and have faith in the leadership of PM Modi, which will be reflected in the elections.

To a question on the claims by certain quarters that the BJP will fall short of the majority mark, which in turn could trigger a race for the post of prime minister, Mr Gadkari responded vehemently: “Not at all!”

“We are completely confident that we will get a complete majority and will also cross the 400 mark and Narendra Modi ji will become the country’s prime minister for the third consecutive term. There is no doubt about this in my mind,” he said.

Questioned about his personal agenda for the centenary celebrations of the RSS in 2025, the ideological fountainhead of the BJP, Mr Gadkari said his “personal agenda” was only towards his constituency that has elected him.

“I do not have any personal agenda. RSS will spell out its agenda. Whatever their expectations, it is our responsibility to fulfil them,” he said.

He was also asked if there is lack of level playing field in the elections due to the arrest of opposition leaders, including Delhi Chief Minister Arvind Kejriwal, and the income tax notices amounting to Rs. 3,500 crore on the Congress party.

The Union minister said the law was “taking its own course” and the BJP or the government had nothing to do with it.

“We have not taken any action on our own. The cases have been registered as per the law. This has nothing to do with the BJP or Modi ji. The agencies keep doing their jobs,” Mr Gadkari said.

The senior BJP leader dismissed opposition allegations of the government weaponising the ED, CBI and Income Tax department, which were taking action in cases related to opposition leaders.

“This is completely wrong. We are not weaponising anybody. The law takes its own course. Now, if Rs 300-400 crore are found in anybody’s home, people also see it. Then there is an inquiry. If anyone has done wrong, action is taken. If anybody is aggrieved, they have the option to move court,” he said.

Mr Gadkari was also dismissive about the uproar over the revelations of donations made through electoral bonds and said it was but natural for the BJP, which is the ruling party, to get a major share in the donations.

“Even in television media, those who have greater TRP get a good rate in advertisement. Those who have less TRP, get advertisements at a lower rate. Today, we are the ruling party, hence we got more donations. If tomorrow any other party comes to power, it will get more donations,” he said.

Mr Gadkari said the ground reality was every political party required money and there was need to find a legal way to raise resources.

“I do not wish to say anything as the matter is sub-judice. After the Supreme Court has its say, all political parties should get together. In some countries, the government finances political parties. We will have to look for some options, this is what I feel,” he said.

Mr Gadkari said there is no substance in the opposition’s claims that the BJP is indulging in “washing machine politics” — absolving opposition figures facing corruption charges if they agree to join the party.

“There is no such thing. The law takes its own course. The agencies do their work on the basis of the evidence they gather. This allegation is completely wrong and baseless. No such work takes place,” he said, responding to opposition allegations of BJP being a “great washing machine”.

On the CBI clean chit to NCP leader Praful Patel in the Air India corruption case, Mr Gadkari said the action had nothing to do with the BJP or the prime minister.

“The truth came out in the inquiry,” he said.

Mr Gadkari recalled former prime minister late Atal Bihari Vajpayee’s remarks on remaining true to the ideology and the principles of the party when asked about any advice to the opposition to revive itself.

“Having a difference of opinion is necessary for a democracy. But the real problem is having no opinion. (Aaj hamarey desh mein mat bhinnata yeh loktantra ke liye awashyak bhi hai. Usmey problem nahi hai. Para mat shunyata yeh hamari samasya hai.) Whatever party you are in and its ideology, it is important to stand by it with conviction – in victory or in defeat,” he said.

“I remember when I entered politics against the Emergency and started working with Jayprakash ji, the conditions were not favourable for us. But we kept on working in adverse conditions and one day Atal Bihari Vajpayee became the prime minister. Today, Modi has ruled the country for the last 10 years. Sure, the people give you an opportunity, but you have to have patience and work hard,” Mr Gadkari said.

Mr Gadkari who won with a margin of more than two lakh seats in the 2019 elections said his goal this time is to win by a five lakh margin. He said he is confident of getting minority and Dalit votes this time. Pitted against him is Vikas Thakre of the Congress, a former mayor of Nagpur who also has good grassroots connect with people.

BJP won 303 seats on its own in the 2019 elections but its tally in the outgoing Lok Sabha is now 288. This follows some bypoll losses and resignations of some MPs after they recently moved to state assemblies. 

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

Congress names Digvijaya Singh from Rajgarh in Madhya Pradesh, Ajay Rai from PM Modi’s Varanasi seat in fourth list

The Congress on Saturday announced 45 names in its fourth list of candidates for the Lok Sabha polls while one seat for the Rashtriya Loktantrik Party (RLP) in Rajasthan. Former Madhya Pradesh Chief Minister Digvijaya Singh will contest the Rajgarh seat in the State while Uttar Pradesh Congress chief Ajay Rai has been fielded from Prime Minister Narendra Modi’s seat of Varanasi. Chhattisgarh Congress chief and sitting member from Bastar, Deepak Baij, has been dropped as the party named Kawasi Lakhma from the seat.

Electoral bonds linked to project clearances by BRS government in Telangana

The purchase of electoral bonds and subsequent encashment by the then ruling party in Telangana, the Bharat Rashtra Samithi (BRS), seemed to be closely linked to the award of contracts and opening of new units by donor companies, if the report submitted to the Election Commission (EC) is to be believed .In Telangana, the BRS encashed the bonds donated by IRB Infra, which were purchased a few weeks after the Outer Ring Road (ORR) contract was awarded to the company. The BRS government gave a Letter of Acceptance (LoA) to IRB Infra on April 27, 2023, leasing out the ORR for 30 years for maintenance.

BJP made ‘bribes’ legal via electoral bonds: Congress

Alleging that the electoral bond (EB) scheme ensured that “prepaid, postpaid, and post-raid bribes” could be routed through regular banking channels, the Congress on March 23 reiterated its demand for a Supreme Court-monitored investigation into the scheme .Addressing a press conference at party headquarters, Congress general secretary Jairam Ramesh said that an analysis of recently published State Bank of India (SBI) data has revealed that 38 corporate groups received 179 government contracts and projects worth ₹3.8 lakh crore after donating electoral bonds to the BJP.

AAP raises concern with CEC as Delhi Police block party office

Alleging that the Delhi police have blocked all routes to the Aam Aadmi Party’s office in the national capital after the arrest of the party’s national convenor and Delhi Chief Minister Arvind Kejriwal, the AAP wrote to Chief Election Commissioner Rajiv Kumar on March 23 seeking a meeting to present their urgent grievances.

Winter lacks bite in Munnar as frost gives the hill station a miss this year

Munnar, the hill station famed for its misty mornings from December to February, has deviated from its usual winter pattern this year. Officials say winter was marked by a total lack of frost, a first in the past two decades, which is unprecedented .Data from the United Planters Association of South India tea research centre in Munnar show that no sub-zero temperature was reported this year in Munnar town. “The lowest recorded temperature was 2°C on January 18 and 19 at Silent Valley Estate under Kanan Devan Plantations in Munnar. “This year, there was an absence of frosty conditions in Munnar compared to the past 20 years,” says a source.

Nitish shortlists JD(U) candidates for 16 seats in Bihar, many of them are sitting MPs

With the first phase of the upcoming Lok Sabha election less than a month away, National Democratic Alliance (NDA) ally, the Janata Dal-United (JD-U), has shortlisted candidates for its 16 constituencies in Bihar based on seat-sharing within the alliance. Barring a few seats, party president and Chief Minister Nitish Kumar, it is said, has opted to repeat several candidates.

Now, Karnataka knocks on Supreme Court’s door seeking drought relief from Centre

As repeated appeals seeking funds under the National Disaster Response Fund (NDRF) from the Centre have not yielded results, the Congress government in Karnataka has filed a petition in the Supreme Court against the Union government for denying financial assistance for drought management in the State .The move is expected to trigger a fresh political debate in the run-up to the two-phase Lok Sabha elections in the State. Earlier too, Karnataka raised the issue of “discrimination” by the Centre in devolution of funds, clearances to projects and financial assistance for schemes.

2024 Lok Sabha election | Prakash Ambedkar remains ambivalent over MVA tie-up; will clear stand on March 26

Continuing to maintain an ambivalent stance towards forging an alliance with the Opposition Maha Vikas Aghadi, Vanchit Bahujan Aghadi (VBA) president Prakash Ambedkar on Saturday said his party would announce its decision on March 26 on whether it would contest the Lok Sabha election independently or go along with the MVA. Mr. Ambedkar again claimed that the MVA parties (which include Uddhav Thackeray’s Shiv Sena UBT, the Congress, and Sharad Pawar’s NCP-SP) had yet to resolve their seat-sharing problems and that it was wrong to point fingers at the VBA for acting as a roadblock in seat-sharing discussions.

2024 Lok Sabha election: U.P. BJP to depute minority party workers to counter ‘bogus’ voting

In a first of its kind move, the Uttar Pradesh wing of the Bharatiya Janata Party (BJP) will depute women members from the Muslim community as agents on minority dominant polling booths to keep a check on bogus voters for the upcoming Lok Sabha election. The BJP Minority Morcha, which planned this initiative, said the focus will be on parts of Western U.P. from where the party claims to have received reports of bogus voting in previous elections. 

IPL-17: KKR vs SRH | Russell, Salt fifties carry KKR to four-run win over SRH despite Klaasen’s heroics

Andre Russel’s all-round effort headlined Kolkata Knight Riders’ sweaty four-run win over Sunrisers Hyderabad in their IPL match here on Saturday .Russell’s brutal unbeaten 64 off 25 balls with three fours and seven sixes and Phil Salt’s more pragmatic 54 off 40 balls guided KKR to 208 for seven. Left-arm pacer T Natarajan was their most successful bowler with a three-wicket haul (3/32). At several points, SRH threatened to chase 208 down, particularly when Heinrich Klaasen (63, 29b, 8x6s) went berserk in the backend of the innings.

Hong Kong lawmakers pass new national security law, giving government more power to curb dissent

Hong Kong lawmakers passed a new national security law on Tuesday that grants the government more power to quash dissent, widely seen as the latest step in a sweeping political crackdown that was triggered by pro-democracy protests in 2019. The legislature passed the Safeguarding National Security Law during a special session Tuesday. It comes on top of a similar law imposed by Beijing four years ago, which has already largely silenced opposition voices in the financial hub.

BJP ends alliance with SKM; to contest Lok Sabha, Assembly polls in Sikkim alone

The BJP on March 23 called off its alliance with the ruling Sikkim Krantikari Morcha (SKM) and announced that the party would go alone in the simultaneous Lok Sabha and Assembly elections in the Himalayan State. The SKM, on the other hand, did not rule out the possibility of a post-poll alliance with the BJP on the lines of a similar arrangement made after the 2019 polls. The announcement to fight the upcoming polls alone was made by State BJP president D.R. Thapa, who returned to Sikkim after attending a meeting with the party’s central leadership in Delhi on seat-sharing with SKM.

Israel says 170 Gaza gunmen killed in hospital raid

Israeli forces fighting in Gaza have killed more than 170 gunmen during their days-long raid at the Palestinian enclave’s main hospital, the military said on Saturday .Israeli troops entered Al Shifa Hospital in Gaza City in the early hours of March 18 morning and have been combing through the sprawling complex, which the military says is connected to a tunnel network used as a base for Hamas and other Palestinian fighters. “Thus far, the forces eliminated more than 170 terrorists in the area of the hospital, questioned over 800 suspects, and located numerous weapons and terror infrastructure,” the military said.

Kejriwal seeks police officer’s removal from security; court orders for CCTV camera footage to be preserved

A local court has directed authorities to preserve CCTV camera footage on a plea filed by Delhi Chief Minister Arvind Kejriwal, seeking the removal of a Delhi Police officer deployed for security in the court for alleged misconduct .“Application has been filed on behalf of the accused [Kejriwal] stating that the security staff/in-charge responsible for bringing him for production before the court, namely ACP [Assistant Commissioner of Police] A.K. Singh, is unnecessarily harsh and mishandled the people around the courtroom,” Special Judge Kaveri Baweja noted.

2024 General elections | These are the Lok Sabha constituencies, Assemblies going to polls in Phase 1

The 2024 Lok Sabha Elections, which are set to commence from April 19, will see the country vote in seven phases as simultaneous elections also take place for four State Assemblies — Andhra Pradesh, Odisha, Sikkim, and Arunachal Pradesh .A total of 102 Parliamentary constituencies in 21 States and Union Territories (UTs) will go to the polls in the first phase on April 19. The last date of nominations in Phase 1 for all 20 States and UTs other than Bihar is March 27. For Bihar, it is March 28 due to a festival.

New Delhi:

Megha Engineering and Infrastructure Ltd made a number of electoral bond purchases close to the date of bagging crucial projects, including the all-weather Zojila tunnel that is being constructed at an estimated cost of Rs 4,500 crore in Jammu and Kashmir.

Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) has emerged as the second-biggest buyer of electoral bonds worth Rs 966 crore, according to data released by the Election Commission of India (ECI) on Thursday.

The unlisted firm donated the highest amount of about Rs 585 crore to the BJP, followed by Rs 195 crore to BRS, and Rs 85 crore to the DMK.

As per available information, MEIL had bought bonds worth Rs 20 crore in October 2020.

The company secured the project to construct Asia’s longest bi-directional road tunnel project in the Union Territory of Jammu and Kashmir in the October-November period of the same year.

In March 2023, MEIL had bagged a Rs 3,681 crore project for construction of a bullet train station at the Bandra Kurla Complex (BKC) in Mumbai.

As per the ECI, the company made its highest purchase of bonds totalling Rs 140 crore in the very next month – April 2023.

According to a company statement earlier, MEIL bagged a Rs 4,358 crore Polavaram project in November 2019 in Andhra Pradesh in a reverse tendering process initiated by the state government.

MEIL had bought bonds worth Rs 5 crore in October 2019, the ECI data showed.

The company also has several projects in Uttar Pradesh, Uttarakhand, Gujarat, and Madhya Pradesh, among others.

It has also donated to the Bharat Rashtra Samithi (BRS), which until recently was in power in Telangana. The BRS, formerly known as Telangana Rashtra Samithi, got Rs 195 crore as donations from the company.

MEIL donated bonds worth Rs 85 crore to the DMK, the ruling party in Tamil Nadu, and Rs 37 crore to the Jagan Mohan Reddy-led YSR Congress Party in Andhra Pradesh.

The TDP got about Rs 25 crore from the company, while the Congress got Rs 17 crore.

The JD(S), Jana Sena Party and the JD(U) received smaller sums ranging from Rs 5 crore to Rs 10 crore from the company.

A query sent to the company seeking its reaction on the development remained unanswered.

The unlisted private firm was founded in 1989 by industrialist Pamireddy Pitchi Reddy as Megha Engineering Enterprises, manufacturing pipes for municipalities.

It changed its name to Megha Engineering and Infrastructure in 2006 and went on to execute big infrastructure projects like dams, natural gas distribution networks, power plants and roads.

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

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:

Hyderabad-based Navayuga Engineering Company Ltd (NEC), which is constructing the Silkyara-Barkot tunnel in Uttarakhand, a portion of which collapsed last year, purchased Rs 55 crore worth of electoral bonds and donated the entire amount to the BJP, as per data released by the Election Commission.

A total of 41 workers were trapped after a portion of the under-construction tunnel collapsed on November 12, 2023. The workers were rescued on November 28.

The Silkyara-Barkot tunnel project – cleared by the Cabinet Committee on Economic Affairs in 2018 – was to be completed in 2022, but its deadline has been extended.

NEC purchased 55 electoral bonds of Rs 1 crore each between April 19, 2019 and October 10, 2022.

Navayuga Engineering, the flagship company of the Navayuga Group, is an engineering and core infrastructure company, according to information posted on the company’s website.

The company said it has constructed the Dhola-Sadia Bridge – the country’s longest river bridge – over the Brahmaputra river, spanning a total of 9.15 km.

NEC also claimed that it was entrusted with the responsibility of constructing the Polavaram Project by the Andhra Pradesh government.

As per the NEC’s website, it is responsible for many iconic projects, including bridges over the Ganga and the Quazigund to Banihal Highway project to ensure all-weather connectivity to north Kashmir through Pir Panjal Pas, a road prone to closure due to severe weather conditions.

The Silkyara-Barkot tunnel is a single-tube tunnel divided into two inter-connected corridors by a partition wall. Each inter-connected corridor can work as an escape passage for the other.

The 4.5-km tunnel project in Uttarakhand, which is part of the Centre’s 900-km Char Dham Yatra All Weather Road, aims to improve connectivity to the four pilgrimage sites.

A query sent to Navayuga Engineering did not elicit any response.

The electoral bond scheme was announced by then Finance Minister Arun Jaitley in his Budget speech of 2017-18, pitching it as an alternative to cash donations made to political parties as part of efforts to bring transparency to political funding.

Under the scheme, the name of the donor was known only to banks. Electoral bonds are encashed by an eligible political party only through a bank account with the authorised bank.

However, the Supreme Court in February directed State Bank of India, which was the designated lender for issuing these bonds, to disclose details of each electoral bond encashed by political parties.

While directing SBI, the Supreme Court also annulled the electoral bonds scheme for political funding, saying it violates the constitutional right to freedom of speech and expression and the right to information.

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

New Delhi:

Trinamool Congress got at least Rs 540 crore worth of electoral bonds from Future Gaming, making it the biggest beneficiary of donations made by ‘lottery king’ Santiago Martin, who also donated to DMK, YSR Congress, BJP and Congress, according to the SBI data released Thursday by the Election Commission.

Sikkim Krantikari Morcha and Sikkim Democratic Front also got some funds from the biggest purchaser of the electoral bonds, which was started by the BJP government in March 2018 and scrapped last month.

While a plethora of well-known corporates bought the bonds when the scheme was alive, the biggest donor to political parties was Future Gaming, which purchased bonds worth Rs 1,368 crore.

Besides Trinamool Congress, Future Gaming gave Rs 509 crore to Tamil Nadu’s ruling party DMK, nearly Rs 160 crore to Andhra Pradesh’s YSR Congress Party, Rs 100 crore to BJP and Rs 50 crore to Congress.

The two parties of Sikkim, one of the few states where lottery is legal, together got less than Rs 10 crore from Future Gaming.

The second-biggest donor is known to be Hyderabad-based Megha Engineering, which has given Rs 966 crore to various parties including BJP, Bharat Rashtra Samiti and DMK.

Qwik Supply, the third largest donor to political parties using electoral bonds, bought Rs 410 crore in bonds between 2021-22 and 2023-24 and gave Rs 395 crore to the BJP and Rs 25 crore to the Shiv Sena.

BJP was the major receiver of funds from big corporate groups like Vedanta, Bharti Airtel, Muthoot, Bajaj Auto, Jindal Group and TVS Motor.

The Election Commission on Thursday made public a fresh data set of electoral bonds, including their alpha-numeric numbers that can help match their purchasers with the political parties that received the funds.

Vedanta group gave donations to BJP Congress, BJD and TMC while Bharti Airtel donated to BJP, RJD, SAD, Congress, and Bihar Pradesh Janta Dal (United).

Muthoot donated to BJP, NCP Maharashtra Pradesh, Bajaj group to BJP and AAP Apollo Tyres to Congress, and Keventers to BJP and Congress.

Industrialist Lakshmi Niwas Mittal donated to the BJP, while Biocon chief Kiran Mazumdar Shaw donated to BJP, TMC and Congress. Rungta Sons Private Limited donated to Congress, BJP, TMC and Sikkim Krantikari Morcha.

Pharmaceutical companies Piramal Capital and Sun Pharma donated to the BJP while Torrent Pharmaceutical Limited donated to the BJP, AAP and Congress, Natco Pharma gave BJP, TDP, TMC and BRS.