electoral bonds

SC-monitored probe must to investigate electoral bonds: RTI activist https://www.youtube.com/watch?v=nK_gwMRjjXY  Apr 16, 2024 #electoralbonds
In an interview with ANI, Prime Minister Narendra Modi defended the electoral bonds scheme, asserting that it was introduced to curb black money. RTI and transparency activist Anjali Bharadwaj, in an exclusive interview with The Federal, says that Modi is misleading people and whitewashing the issues around electoral bonds. Bharadwaj says that it is a huge stepdown for the Prime Minister, who, in 2014, had claimed to make India corruption free. The activist says the only way to get to the bottom of the ‘scam’ is a Supreme Court-monitored probe.

Electoral Bonds Must be Investigated Sibal with Justice Madan Lokur, Sitaram Yechury, Arun Kumar
https://www.youtube.com/watch?v=t9n6UWkTHBA 

Electoral Bond का डाटा बदलवाया गया! Kotak linked Com gave 1.3 Billion to BJP https://www.youtube.com/watch?v=VBN1avdtxsc DESH NEETI

https://twitter.com/pbhushan1/status/1776804019224064207 Kotak-Linked NBFC Donated Rs 131 Crore in Electoral Bonds – More Than 2x of SBI Disclosure. The bonds were donated to the BJP when Kotak was facing regulatory issues with RBI, which were settled after donation. Is a case of Bribery & money laundering. 

https://thewire.in/business/kotak-linked-nbfc-donated-rs-1-3-bn-in-electoral-bonds-more-than-2x-of-sbi-disclosure Hemendra Hazare.. In August 2018, the Reserve Bank of India (RBI) rejected Kotak Mahindra Bank’s (KMB) proposal of issuing preference shares to reduce Uday Kotak’s holding in the bank. KMB responded by taking the banking regulator to court in December 2018. Although the RBI had a strong case, it capitulated in an out-of-court settlement on terms favouring Uday Kotak in January 2020...

While the reputation of Asia’s richest banker has been tarnished by the electoral bond issue, the impact on the RBI’s reputation as a banking regulator is far worse. Recall the harsh language exchanged between KMB and the banking regulator in court papers during the dispute regarding Uday Kotak’s refusal to lower his equity stake, the disgraceful out-of-court settlement on Kotak’s terms, and the last extension given to Uday Kotak as CEO.

Now the smokescreen has fallen apart. Much as it was clear from the very inception, that the electoral bond scheme and the set of amendments to critical laws for ensuring some degree of transparency and ensuring level playing field in the elections was a camouflage. With the February 15 historic verdict of the Supreme Court adjudging the scheme as unconstitutional along with all those amendments upholding the fundamental right of the people to information underlined criminal intention of the government with clarity. https://thewire.in/politics/unraveling-of-electoral-bond-and-its-criminal-underpinnings 

There are six major consequences of the EB scheme which are out there in the open.

1. Money laundering: The removal of cap for maximum limit of bond contribution has brought out the bizarre spectacle of companies donating bonds far in excess of their profits and earnings, with even companies with large losses donating bonds to political parties, particularly the BJP.
2. The distinct presence of shell companies to facilitate this laundering.
3. Quid pro quo by facilitating the awarding of license contract and favourable policy changesin lieu of donations. This phenomenon is being popularly paraphrased ‘Chanda do-Dhanda lo’.
4. It facilitated the deployment of ED and CBI to raid corporates forcing them to contribute bonds. But for BJP this route was unavailable to other political parties. This has come to be popularly described as ‘hafta vasooli’.
5. It allowed endangering public health in the country by condoning the violations of drug companies and allowed substandard drugs.
6. It allowed undue advantage to BJP with its control over SBI by even going to the extent of encashing the expired bonds in clear violation of the legal provision

by Niloptal Basu

29/03/2024