ELECTORAL DONATION
It's taxing times for electoral bond buyers after Supreme Court's Feb verdict
More than 1,000 entities who purchased electoral bonds for political donations may now face inquiries from tax authorities regarding the deductions claimed on these contributions, following the Supreme Court's decision to invalidate the scheme in February. The Supreme Court, in its ruling on February 15, declared the electoral bond scheme unconstitutional. Since its introduction in January 2018, the scheme had amassed Rs 16,518 crore in donations for political parties.
Kotak Bank promoter Infina Finance donated Rs 60 crore to BJP via electoral bonds
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.
Electoral bond scheme deliberately ' muddied waters' of corporate political donations: Congress
Jairam Ramesh alleged there are four primary channels of corruption in the "electoral bond scam" and everyday a new dimension emerges to the "PayPM Scam", "confirming the shocking reality of the corruption which has engulfed this country through Narendra Modi's encouragement".
Electoral bonds: BJP received donations from big corporate groups
Electoral bonds, purchased by various corporate groups, benefitted BJP. The Election Commission's data revealed the donors matching political parties. BJP received donations from a wide range of entities, including pharmaceutical companies and industrialists.
Electoral Bonds: Lifting veil on Megha, Vedanta, Future Gaming and Reliance-linked co's donations to BJP, TMC, Congress & others
The State Bank of India (SBI) has released the complete electoral bond data as per the Supreme Court's directives. The dataset contains unique alphanumeric numbers linking bond purchasers to the political parties redeeming them.
Kotak family-owned Infina Finance gives Rs 60 cr to BJP via electoral bonds
Little-known NBFC Infina Finance, owned by the Kotak family, has donated electoral bonds worth Rs 60 crore to the BJP. According to the data given by the State Bank of India (SBI) to the Election Commission, Mumbai-based Infina Finance purchased these bonds in the denomination of Rs 1 crore in 2019, 2020 and 2021.
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AAP questions BJP over 'silence' on relations with alleged electoral bond donor
AAP raises concerns about BJP's silence on Sarath Chandra Reddy's donations, arrested in excise policy case. Queries BJP leaders' involvement and lack of transparency in transactions.
"38 corporates donated Rs 2,004 cr to BJP through electoral bonds": Priyanka Gandhi
Priyanka Gandhi Vadra criticizes BJP over electoral bond scheme, alleging legal corruption. She claims 38 corporate groups donated Rs 2,004 crore to BJP and received contracts/projects worth Rs 3.8 lakh crore. Priyanka alleges ED, CBI, and IT raided 41 corporate groups, leading to Rs 2,592 crore in donations to BJP. She also mentions 16 shell companies donating Rs 419 crore. Priyanka accuses the government of turning agencies into an 'extortion racket' and demands the PM account for the alleged loot.
BJD got Rs 944.5 cr donations through electoral bonds in six years; Congress seeks clarification
Biju Janata Dal, under Naveen Patnaik, amassed Rs 944.5 crore through electoral bonds from 2018-19 to 2023-24. Significant contributions came from mining and steel industries, raising concerns about the source of donations.
Aurobindo Pharma bought electoral bonds worth Rs 52 cr, BJP biggest beneficiary
The Hyderabad-based firm had purchased electoral bonds between April 3, 2021 to November 8, 2023 and Rs 34.5 crore was donated to the Bharatiya Janata Party (BJP), Rs 15 crore to the Bharat Rashtra Samithi (BRS), and Rs 2.5 crore to the Telugu Desam Party (TDP).
Navayuga Engineering donated Rs 55 cr electoral bonds to BJP
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.
Half measures can make things murky
Judicial intent for voter choice through EB disclosures risks driving corporate donations underground, potentially compromising anonymity and transparency. Lobbying legitimacy could enhance governance, benefiting both voters and shareholders.
Mystery donations: TMC and JD(U) claim electoral bonds left anonymously at their offices
Both the Trinamool Congress and JD(U), in their disclosures regarding electoral bonds for the fiscal year 2018-19, claimed that unidentified individuals had delivered sealed envelopes to their respective offices in Kolkata and Patna. Consequently, they asserted their lack of awareness regarding the identities of the donors.
At a personal level I purchased electoral bonds: Biocon's Kiran Mazumdar-Shaw clarifies on political donations
Kiran Mazumdar-Shaw clarified that the donations were made on a nominal scale, adhering to the principle of funding election campaigns with transparent and legitimate sources of income, commonly known as 'white money.'
"Are all 1,300 companies that donated through bonds thieves?" Acharya Pramod Krishnam amid Oppn barbs at Centre
Expelled Congress leader Acharya Pramod Krishnam supported the Centre regarding the publication of electoral bond funding details. He questioned if the Opposition considered the 1,300 companies that donated through electoral bonds as 'thieves'. Krishnam criticized Rahul Gandhi and the Opposition, saying they were tarnishing Prime Minister Modi's intentions behind the scheme. The Election Commission uploaded the data on electoral bonds as per the Supreme Court's direction. The Congress alleged that 60% of the electoral bonds went to the BJP, accusing them of misusing government agencies.
The curious case of Rs 1,000 electoral bonds: Many opted for smallest EBs, including FMCG major ITC
From April 16, 2019, to January 10, 2024, a total of 132 Rs 1,000 bonds - the smallest electoral bonds - were purchased. Despite their count, Rs 1,000 bonds represent a minuscule fraction compared to the Rs 12,769 crore worth of bonds purchased in the same duration.
Oppn seeks SC probe into 'quid pro quo' in bonds
Opposition accuses government of pressuring firms for BJP's donations. Congress demands SC-monitored corruption investigation. BJP received half donations. Freeze BJP accounts for illegal funds. Mention of ED, IT, CBI raids, CPI-M, SBI data, MP Kapil Sibal.
No link between ED raids and political donations to ruling party: FM
Finance Minister Sitharaman addressed allegations of ED raids' ties to electoral funding, advocating for a transparent political funding system. She discussed the electoral bond scheme's imperfections and the Supreme Court's ruling on its constitutionality, emphasizing the need for transparency in political funding.
Electoral bonds data released: Biggest facts that were revealed
Regional parties received over Rs 5,221 crore in donations through electoral bonds between April 2019 and January 2024 which was Rs 839 crore less than the Rs 6,060.51 crore raised by the BJP alone in the period under review. Among the regional parties, the Trinamool Congress alone raised Rs 1,609.53 crore, which was 30% of the total donations received by 22 regional parties who got funds through electoral bonds. The Bharat Rashtra Samithi raised Rs 1,214.70 crore through electoral bonds, the BJD got Rs 775.50 crore, the DMK Rs 639 crore, the YSRCP Rs 337 crore, the TDP Rs 218.88 crore and the Shiv Sena raised 159.38 crore.
Regional parties together raised Rs 5,221 crore through electoral bonds
According to the data of the electoral bonds published by the Election Commission, two national parties - the Congress and the AAP - have raised Rs 1,421.86 crore and Rs 65.45 crore respectively in the period under review. The other national parties - the BSP, the CPI(M) and the NPP - did not receive any funds through electoral bonds.
What is PM so scared of, asks Cong on electoral bonds issue
Ramesh's attack on the government came a day after the State Bank of India (SBI) submitted to the Election Commission the details of entities which had purchased the now-scrapped electoral bonds and political parties which received them, as it complied with the Supreme Court order to furnish information.
One big step for 'transparenters'
EC is now expected to upload the data on its website by Friday. SBI's data on EBs issued between April 12, 2019, and February 15, 2024, will contain two lists setting out the name of buyer or seller, date of purchase and sale, and amount of subscription and redemption.
Rahul Gandhi accuses PM Modi of hiding 'donation business' as SBI seeks extension for electoral bond disclosure
Congress leader Rahul Gandhi accused Prime Minister Narendra Modi of concealing the "donation business," following the State Bank of India's request for an extension to disclose Electoral Bond donors. Gandhi questioned why the SBI wants to withhold this information from the public before elections. The SBI, citing practical difficulties, sought an extension till June 30 to provide details of electoral bonds encashed by political parties, as directed by the Supreme Court.
PM Narendra Modi urges 'everyone' to donate to BJP after giving Rs 2,000
India's Prime Minister Narendra Modi has urged 'everyone' to donate money to the Bharatiya Janata Party to help the saffron party's efforts in building the nation. The Supreme Court recently banned electoral bonds introduced by the Modi government, which were crucial for political funding.
A publicly-funded, transparent model of campaign finance can be a start in the right direction
In a country the size of India where electoral fights are money-dependent, there are no magic formulas. Worse, any real change is likely to take decades, with several missteps on the way. Still, a public fund could be the start in that direction. Supreme Court has already set the tone by freezing electoral bonds
SC strikes down electoral bonds scheme. Here's what it asked the SBI to do
The Indian Supreme Court has ruled that the issuance of electoral bonds is unconstitutional and violates the right to information, Article 19(1)(a). The court has ordered the State Bank of India to stop rolling out bonds and submit details of bonds purchased since April 2019 to the Election Commission of India (ECI) by March 6.
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