Electoral Bonds reveal shocked India and know dark secrets.

Electoral Bonds are the thing that is shaking the whole of India. SBI released the list of donors and recipients through the Election Commission of India. Recipients are only the political parties that are present across the country. Electoral bonds are sent anonymously to any political party. So the funding to political parties has increased in this way.

Now recently on 15^th Feb 2024 Supreme Court cut down because it is an unconstitutional act. The five-judge bench by the chief justice directed SBI to reveal the information. The election commission of India has published the list of donors and recipients. This electoral bond violates ACT 110 of the Indian Constitution.

What is Electoral bonds:

Let’s know what is electoral bonds in easy words. The Union Budget passed the bill introducing electoral bonds in 2017. The rules of funding the political parties were quite different before the introduction of bonds. Before 2017 an individual who donated more than 20,000 rupees needed to expose publicly his name. The companies could only donate less than 7.5% of their annual profit. But through these electoral bonds, individuals and companies that donated remained secret. And also there is no rule of donating less than 7.5% of the profit. As electoral bonds, they have no limits for donating. It can be from 1 rupee to any thousands of crores.

Electoral bonds are very much different from any other bonds present in the market. All other bonds get interest when invested for example SGB. But these bonds are only for donating money to the political parties. It also benefits parties as the amount they receive is tax-free. Only parties which have a minimum 1% voting share in previous elections were eligible through donations. But 1% is very low any party can easily get the vote share.

Supreme Court judgement on this Bonds:

On 15^th Feb 2024 Supreme Court scrapped the electoral bonds because as Indian citizens, everyone has the right to know the information. As political parties are for people. For fair elections, every transaction of political parties are publicized. As parties say they are fair enough and not corrupted. Then they need to reveal their donations to parties. The Supreme Court decided this could affect the elections and make them a more fair elections.

The Chief Justice ordered SBI to reveal the donors and recipients of these bonds. But SBI has requested that they can only release it in July. But the Supreme Court ordered them to release it before the elections which is 15^Th march.

They released it on 15^th March but the serial number and unique numbers were missing from the list. Once again court ordered them to release the list with serial numbers so it would be fairer and no mistakes occur.

The top 5 parties receive the highest donations:

Get the other list of donations through the election commission’s official website.

Now let’s know to donor companies:

Now, let’s get into the dark side behind electoral bonds, where certain individuals or entities have benefited from them.

list of companies which donated to political parties.

Drak secrets of elecotral Bonds:

As we can see in the list IFB Agro is one of the companies that donated 92 crores. But, they have got only 5 crores as profit in the past 12 months of their donation. Also, the market capitalization is 400 crores. But they have donated 92cr which is quite mysterious.

As we know highest donator is Future Gaming company which donated 1,368 cr. This company was under a money laundering case in 2022 by the Enforcement Directorate. In their rids they have attached 409 crores of assets of the company. But even though they have donated 1000+cr to political parties….

The IT department continuously raided the offices of Megha Engineering regarding their income issues in 2019. Just after the IT raids the company started donating funds to political parties which is 966 crores……

Holdia Energy was also under a CBI case, after that they also donated 377 crores.

The Enforcement Directorate cornered Vedanta for money laundering issues. This group allegedly donated 400cr.

One of the biggest corporate hospital chains Yashoda was under IT raids in December of 2020. They started their donations to political parties in 2021 October.

DLF-chained companies were under CBI raids for their illegal allocations of land in 2019 January. They donated 25 crores in October 2019, 15 crores in Jan 2020, and the rest of the money in 2022.

Jindal Steel was under ED raids for their volitation of foreign exchange regulations in April 2022. Just after that in June and October, they donated 46 cr. Overall they have donated 123 cr.

NCC, Divi slabs, and United Phosphorus were also under some IT issues and they also donated some crores using electoral bonds.

Some unknown companies are not huge but donate some crores of rupees to political parties.

Time for elections:

These are the dark things that lie behind the donations of the companies to the political parties. Donations often occurred primarily after cases raised against them. This shows some of them are misusing power and creating a way to get anonymous donations.

It is known that the Election Commission of India has released the election schedule. I hope I have you the correct information regarding electoral bonds. Think wisely before you vote. Vote for a better India, a better future, and an educated future.

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