Data related to electoral bonds made public last week by the Election Commission of India (ECI) has turned the spotlight on not just some of the well known companies in the Telugu-speaking States but also many lesser known entities and individuals.
While these presumably low profile firms and individuals may not be as popular as realty and infrastructure developers Megha Group, Navayuga Engineering, My Home Group or pharma firms such as Dr. Reddy’s Laboratories, Aurobindo Pharma, Natco Pharma, Hetero, Divis and MSN, the questions still remain the same — the reason behind the purchase and the recipient.
The amount involved in the bonds they purchased is relatively small.. Figuring in the list are Sangireddy Thirupathi Reddy, Peddireddy Ramanjaneya Reddy and Pappi Reddy Kishore Kumar Reddy, who bought bonds totalling ₹5 lakh each. They are just a few of many individuals about whom little is known, including whether business entities, if any linked to them, or their associates also purchased the bonds.
There, however, are also instances of where the individual and not his or her entity has purchased the bond. Some of the relatively lesser known companies that purchased the bonds running into several crores include Sandhya Constructions & Estates, Hazelo Lab, Hindys Lab and Selmar Lab.
The purchase was not limited to industries alone as new age renewable energy firms such as Mytrah Energy and Greenko, those into education, among others, as well as those set up in recent years, form part of the list.
Among healthcare providers, one of the largest purchaser of the electoral bond was Yashoda Super Speciality Hospital with ₹162 crore. Topping the list of entities from the two States that purchased the bond was, however, Megha Group with ₹1,186 crore.
The data, published by the Election Commission of India after being released by the State Bank of India on the orders of the Supreme Court, raises more questions than answers, especially the possible circumstances and timing of the purchase. Some of the companies that purchased bonds have faced regulatory action as well as bagged some major projects.
However, more clarity is likely to emerge with the Supreme Court on Monday directing the SBI to make a complete disclosure of electoral bonds’ data to the ECI for publication.