New Delhi: The recent release of data on electoral bond purchases has revealed the significant participation of corporate entities in political funding, with Hyderabad-based Megha Engineering and Infrastructure Limited emerging as the top donor from Telugu-speaking states, contributing a whopping Rs 966 crores via electoral bonds.
Joining Megha Engineering among the top donors from the region are Yashoda Super Speciality Hospital, contributing Rs 162 crores, and Dr. Reddy’s Laboratories with a donation of Rs 80 crores. The revelation comes amidst a broader disclosure of electoral bond purchases, featuring prominent names such as Lakshmi Mittal, Sunil Bharti Mittal’s Airtel, and Anil Agarwal’s Vedanta.
According to the data released by the Election Commission, Megha Engineering’s substantial contribution underscores its prominence in political funding, reflecting its significant presence in large infrastructure projects. Meanwhile, Dr. Reddy’s Lab and contributions reaffirm their engagement in the political landscape of Telangana and Andhra Pradesh.
However, the spotlight also falls on lesser-known entities, such as Future Gaming and Hotel Services, which purchased electoral bonds worth over Rs 1,350 crore. Future Gaming’s involvement raises eyebrows, especially considering its past scrutiny by the Enforcement Directorate in March 2022.
Among the prominent national entities, Vedanta Ltd, owned by Anil Agarwal, purchased bonds worth Rs 398 crores, while companies associated with Sunil Mittal collectively acquired bonds worth Rs 246 crores. Additionally, steel magnate Lakshmi Niwas Mittal personally bought Rs 35 crores worth of bonds, showcasing individual involvement in political contributions.
It’s worth noting that while most of the purchased bonds are attributed to political parties, donations to the Congress and the Samajwadi Party were made in the name of their respective party presidents, highlighting the complexities and nuances of political funding.
The disclosure of electoral bond purchases sheds light on the intricate web of corporate influence in political financing, prompting calls for greater transparency and accountability in the electoral process. As scrutiny intensifies, stakeholders are under pressure to address concerns regarding the nexus between money and politics, ensuring a level playing field and upholding the integrity of democratic institutions.
