21 Companies Purchasing Electoral Bonds Post Raids: Exploring the Intricacies

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21 Companies Purchasing Electoral Bonds Post Raids: Exploring the Intricacies


In the labyrinth of corporate dynamics, the relationship between political contributions and legal entanglements often raises eyebrows. In a recent analysis conducted by Project Electoral Bond, a disquieting pattern emerged: several companies, under the scrutiny of various central agencies, engaged in significant electoral bond transactions. Here, we delve into the intricacies of these transactions, shedding light on the entities involved, the timing of their actions, and the broader implications.

21 Companies Purchasing Electoral Bonds Post Raids: Exploring the Intricacies


Investigative Analysis

The analysis, spanning from October 2019 to January 2024, reveals a poignant narrative of corporations navigating legal quagmires while actively participating in the political financing landscape. Among the 21 companies scrutinized, several prominent names emerge, each with its own tale of entanglement and engagement.

Table: Companies Purchasing Electoral Bonds after Facing Action

Company Name Total Value of Electoral Bonds Purchased (in crores) Period of Purchase
Future Gaming and Hotel Services Private Limited 1593.00 October 2020 – January 2024
Megha Engineering and Infrastructure Limited 980.00 April 2019 – November 2023
Vedanta Limited 376.00 April 2019 – November 2023
Hetero Pharma Group 115.00 October 2021 – October 2023
Hero MotoCorp 20.00 October 2022
Rashmi Group 95.50 October 2021 – November 2023
DLF Group 170.00 October 2019 – November 2022
Reddy’s Labs 84.00 May 2019 – January 2024
Navayuga Engineering 55.00 April 2019 – October 2022
Aditya Birla Group: Utkal Alumina and Grasim Industries 168.30 April 2019 – October 2023
United Phosphorus 60.00 October 2019 – November 2022
Aurobindo Pharma 67.00 2021 – 2023
Trident Chemphar 5.00 July 2022
IFB Agro Limited 92.30 2021 – 2024
Chennai Green Wood Private Limited 105.00 2022 – 2023
Rungta Sons Pvt Limited 51.00 April 2021 – January 2024
Shirdi Sai Electricals 40.00 January 2024
HES Infra Private Limited 22.00 April 2022 – November 2023
Shri Jagannath Steels & Power Limited 14.50 April 2021 – January 2022
Kalpataru Projects International Limited 25.50 April 2023 – October 2023
Sun Pharma 31.50 May 2019


The Companies Under the Scanner

1. Future Gaming and Hotel Services Private Limited

Future Gaming, led by the enigmatic figure of Santiago Martin, stands out as the most significant player in electoral bond purchases, tallying a staggering Rs 1,368 crore between October 2020 and January 2024. Despite facing repeated raids and investigations by agencies like the Enforcement Directorate, Future Gaming’s fervor for electoral bonds remained unabated, prompting questions about the nexus between legal challenges and political contributions.

2. Megha Engineering and Infrastructure Limited

Megha Engineering, a behemoth in the infrastructure sector, maneuvers through a landscape fraught with controversy, including the Kaleshwaram Lift Irrigation Project’s alleged irregularities. Despite facing income tax raids, its electoral bond purchases soared to Rs 980 crore, spotlighting the intersection between governmental scrutiny and political financing.

3. Vedanta Limited

Anil Agarwal’s Vedanta Group, embroiled in legal battles and environmental controversies, funneled Rs 376 crore into electoral bonds during the pandemic, raising eyebrows about the confluence of corporate interests and political contributions amidst crises.

Understanding the Dynamics

Frequently Asked Questions (FAQ): 21 Companies Purchasing Electoral Bonds Post Raids: Exploring the Intricacies

Q1. What are electoral bonds?

Electoral bonds are financial instruments introduced by the Indian government in 2018 for anonymous political contributions. These bonds allow individuals and corporations to donate money to political parties without revealing their identities publicly.

Q2. Why are these companies significant?

These companies hold sway in various sectors, from infrastructure to pharmaceuticals, and their engagement with electoral bonds amidst legal scrutiny underscores potential linkages between corporate interests and political financing.

Q3. What implications do these findings carry?

The findings raise pertinent questions about transparency, accountability, and the integrity of political financing mechanisms. They underscore the need for robust regulatory frameworks to mitigate undue influence and ensure ethical conduct.


As the intricate web of corporate interests and political contributions continues to unravel, the need for transparency and accountability grows ever more pressing. The findings of Project Electoral Bond serve as a stark reminder of the nuanced dynamics shaping India’s political and corporate landscape, urging stakeholders to reevaluate existing paradigms and embrace reforms that uphold democratic principles.

Table: Electoral Bond Purchases by Companies Under Scrutiny

Company Name Total Electoral Bond Purchases (INR Crore) Period of Purchases
Future Gaming and Hotel Services 1,368 October 2020 – January 2024
Megha Engineering and Infrastructure 980 April 2019 – November 2023
Vedanta Limited 376 April 2019 – November 2023

Note: The table provides a glimpse into the electoral bond purchases made by select companies under scrutiny, showcasing the magnitude and duration of their engagements.

In a landscape where transparency is paramount, these revelations prompt introspection and underscore the imperative of fostering accountable and equitable political financing mechanisms. As stakeholders navigate these complex terrains, vigilance and concerted efforts towards reform remain paramount to safeguarding the integrity of democratic processes.

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