Largest electoral bond donors also donated via Prudent Electoral Trust: Report

Analysis of the Election Commission data on electoral bonds shows that many top electoral bond buyers previously donated significantly to Prudent Electoral Trust (PET), 76 per cent of whose contributions went to the Bharatiya Janata Party from 2014-23, reported Hindu Businessline.

Electoral trusts, established in 2013 by United Progressive Alliance (UPA), facilitated corporate donations to political parties, acting as a 'safe buffer' between them and donors. The Commission mandates disclosing donor and recipient information on its website.

However, the introduction of electoral bonds allowed anonymous donations, in a departure from transparency. The Supreme Court deemed this unconstitutional and ordered SBI to disclose bond numbers, aiming to establish connections between buyers, donors, and parties.

Which companies contributed through both Electoral Bonds and Trusts?

Several major donors, such as Megha Engineering & Infrastructures Ltd, Bharti Airtel group, and Arcelor group, are highlighted in both electoral bond purchases and trust contribution reports submitted to the Election Commission between 2019-20 and 2022-23.

Megha Engineering gave Rs 22 crore and Rs 87 crore to political parties through the Prudent Electoral Trust in 2020-21 and 2022-23, respectively, reported Times of India. Similarly, companies under Laxmi Niwas Mittal's Arcelor group contributed a total of Rs 130 crore through the trust in 2021-22 and 2022-23, while Mittal himself donated Rs 35 crore via bonds, the publication said.

Prudent Trust's filings for 2020-21 also disclose a Rs 20 crore donation from Philips Carbon Black, a lesser-known company that purchased bonds worth Rs 35 crore.

Data from the ADR also indicates that the Bharti and DLF groups have consistently been among the few organizations contributing to the Prudent Electoral Trust each year.

Future Gaming

Future Gaming and Hotel Services Ltd too, didn't solely rely on electoral bonds for political contributions. Examination of reports filed by political parties and electoral trusts from 2019-20 to 2022-23 by TOI reveals that the company led by 'lottery king' Santiago Martin donated Rs 100 crore to Prudent Electoral Trust in 2020-21 and then directly contributed Rs 5 crore to the BJP in 2022-23.

Future Gaming has been under scrutiny by the Enforcement Directorate and CBI since 2019, facing numerous raids and property seizures.

According to Prudent Electoral Trust's 2020-21 report, Future Gaming was the largest contributor, adding Rs 100 crore to the trust's funds totaling Rs 245.7 crore. Of this, the BJP received the majority share of Rs 209 crore, with smaller amounts going to other parties like JD-U, NCP, Congress, RJD, AAP, and LJP, the publication said.