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HomeIndiaElectoral (*11*) Case Supreme Court SBI ECI 66 companies in Mumbai region...

Electoral (*11*) Case Supreme Court SBI ECI 66 companies in Mumbai region bought 11 Percent of all poll bonds for Rs 1,344 crore


Electoral (*11*) Particulars: After the Election Fee uploads the main points associated to the sale of electoral bonds of political events, new revelations are being made day by day. If we have a look at the information, 66 companies registered in Mumbai space collectively bought electoral bonds value Rs 1,344 crore since 2019. This quantity is 11% of the whole bonds bought nationally.

The quantity of donation in this ranges from Rs 2 lakh to Rs 410 crore. Consumers embody builders, pharmaceutical companies, pathology labs, diamond companies, investments, buying and selling companies and tech companies. Their headquarters are in town, Thane and Navi Mumbai.

Small companies additionally bought so much of bonds

State Financial institution of India knowledge revealed by the Election Fee of India reveals that small companies have additionally bought so much of bonds. Most of these purchases had been made in 2019. It has additionally been revealed that almost all of the bonds had been taken in a single day.

So much of donations had been additionally acquired from Pune, Nashik and Kolhapur.

Political events additionally acquired enormous donations from different districts together with Pune, Nashik and Kolhapur. This complete quantity reached to about Rs 218 crore and the quantity of companies shopping for bonds in the state elevated to 76. Maharashtra's share in bought electoral bonds elevated to Rs 1,562 crore.

On the difficulty of as much as 13% of the Rs 12,156 crore value of bonds bought throughout India, former Central Data Commissioner and RTI activist Shailesh Gandhi mentioned Mumbai's 10% contribution appears conservative given town's standing as a monetary capital. He mentioned that 20-30% bonds would have been bought right here.

Fast Provide Chain Firm gave the utmost donation

Main Mumbai-registered companies which have bought the bonds embody Vedanta, Fast Provide Chain, Cipla, Inorbit Malls, Omkar Realtors, Glenmark Prescribed drugs, Piramal, Sula. Fast Provide Chain Personal Restricted, a warehouse and retailer firm registered in Navi Mumbai, was the corporate that made the best donation. This firm had bought bonds value Rs 410 crore. It bought the bonds on 4 events between January 2022 and November 2023.

Vedanta is at second place with bonds value greater than Rs 400 crore.

However, Vedanta Restricted, registered in Andheri, which was getting ready to enter the semiconductor enterprise, bought bonds value greater than Rs 400 crore. It bought bonds value Rs 52.6 crore in 2019, Rs 24 crore in 2021, Rs 253 crore in 2022 and Rs 70 crore in 2023. The third largest donation was given by Piramal Group. He bought bonds value Rs 48 crore. After this comes Cipla Restricted which bought bonds value Rs 39.2 crore.

These companies bought bonds solely as soon as in the final 5 years

There are numerous companies in the listing which made purchases solely as soon as in the final 5 years. IRB MP Expressway Personal Restricted bought 25 bonds value Rs 1 crore every in a single day on 4 July 2023. Sula, a number one vineyard firm with vineyards in Nashik and headquartered in Mumbai, additionally bought bonds value Rs 25 lakh in a single day on April 20, 2019.

Many companies outdoors Mumbai additionally donated generously.

Among the many main companies donating outdoors Mumbai was BG Shirke Building Know-how Personal Restricted from Pune, which donated Rs 117 crore. The corporate made this buy between January 2023 and January 2024. Final 12 months, the group had gained a contract value Rs 4,652 crore to construct 20,448 flats beneath the Pradhan Mantri Awas Yojana in Maharashtra. Bajaj Group bought bonds value Rs 48 crore, whereas smaller teams like Alaya Building in Nashik additionally donated Rs 1 crore.

These companies gave the least donation

On the backside of the listing are companies like RR Kabel and Raj Kamal Medicine. His donation is lower than Rs 10 lakh. Wire and cable manufacturing firm RR Kabel bought bonds value Rs 2 lakh on April 11, 2023. Raj Kamal Medicine just lately bought bonds value Rs 5 lakh due in January 2024.

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