Top buyers of electoral bonds are ‘Lottery King’ and Megha Engineering | Modi | BJP | Martin

India’s leading lottery company headed by a controversial businessman is the top purchaser of electoral bonds, an initial analysis of the data released by the Election Commission of India has revealed. Other large buyers include Hyderabad-based infrastructure giant Megha Engineering & Infrastructures Limited, a Reliance-linked company QwikSupply Chain, mining conglomerate Vedanta, a subsidiary of the Kolkata-based Sanjiv Goenka group, among others.Lottery giant Future Gaming and Hotel Services has bought 1,368 bonds worth Rs 1,368 crore. The Coimbatore-based company with a turnover of Rs 7,000 crore is headed by Martin Santiago, also known as ‘Lottery King’ Martin. The company has been under investigation for money laundering. The second largest buyer is the Megha group of companies, including Megha Engineering & Infrastructures Limited (MEIL) and Western U.P. Power Transmission Company Ltd (WUPPTCL) has contributed the second highest amount to Electoral Bonds. MEIL bought 966 bonds each worth Rs 1 crore — totalling Rs 966 crore. WUPPTCL bought bonds worth Rs 220 crore, bringing Megha Engineering’s total contribution to Rs 1,186 crore. The Megha group is headquartered in Hyderabad and has won several government projects, including many works part of the Rs 1.15 lakh crore Kaleshwaram Lift Irrigation Project in Telangana, and the Rs 14,400 crore Thane-Borivali Twin Tunnel Project in Maharashtra. MEIL was also the largest donor to Prudent Electoral Trust in 2022-23, contributing Rs 83 crore to the trust that distributes money to political parties. In that year, Bharath Rashtra Samiti (BRS) received Rs 90 crore from Prudent Electoral Trust. The company is believed to be close to the) party. Maharashtra-based Qwik Supply Chain Private Limited bought bonds worth Rs 410 crore. One of the company’s three directors, Tapas Mitra, is also the director of Reliance Eros Productions, Reliance Photo Films, Reliance Fire Brigades, and Reliance Polyester. According to his Linkedin profile, he is the head of accounts (consolidation) at Mukesh Ambani’s Reliance Industries Limited. Mining giant Vedanta Limited, founded by businessman Anil Agarwal and headquartered in Mumbai purchased electoral bonds worth Rs 399 crore. The conglomerate is no stranger to controversy, including allegations of debt and multiple conflicts over its subversion of environmental regulation. Last year, it announced the “demerger” of its businesses. In this week’s Yen Endra Kelvi Shabbir Ahmed brings what Electoral Bonds data has revealed.

Related Stories

No stories found.
The News Minute