Agencies investigate half of top 30 companies donating to political parties

More than half of the top 30 companies that donated to political parties through the now-defunct electoral bonds scheme have come under investigation by various enforcement agencies, including the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and Income Tax department.

The investigations into these companies have varied in intensity, with some facing case filings while others have had their premises raided. Additionally, certain firms have had their assets attached by the Enforcement Directorate.

Among the entities under scrutiny by central agencies are Future Gaming and Hotel Services, Megha Engineering and Infrastructure Limited, Haldia Energy Limited, Vedanta Limited, and Yashoda Super Speciality Hospital, among others.

The Electoral Bonds data, published by the Election Commission on Thursday, sheds light on the extent of political contributions made by these companies. Future Gaming and Hotel Services emerged as the top buyer of electoral bonds, purchasing bonds worth over Rs 1,350 crore. The company is owned by Santiago Martin, a prominent figure in the lottery industry.

Following closely behind is Megha Engineering and Infrastructures Ltd (MEIL), a Hyderabad-based infrastructure giant, which bought bonds worth Rs 966 crore. Anil Agarwal's Vedanta Ltd and Airtel owner Sunil Mittal, through three companies, are also among the notable donors, with contributions totaling Rs 398 crore and Rs 246 crore, respectively.

The revelations from the Electoral Bonds data highlight the significant financial influence wielded by these corporations in the political landscape. Moreover, the ongoing investigations underscore the scrutiny faced by firms involved in political donations, raising questions about transparency and accountability in the electoral process.