India’s Biggest Corruption Scam: Electoral Bonds, Money Power & Politics https://www.youtube.com/watch?v=P9ZE6THPMPo The Wire Jun 21, 2025 Why is the Electoral Bonds Scheme called the biggest corruption scam in India? How does money power influence elections? What has been the role of Election Commission of India, ED and CBI in curbing political corruption? What are the reforms needed for transparency & accountability? Jagdeep Chhokar joins Anjali Bhardwaj & Amrita Johri
The Megha Engineering & Infrastructure Ltd was named the 'lowest bidder' in the Mumbai Elevated Road Project and the Road Tunnel Project. The firm, valued at Rs 67,500 crore, has been a prominent purchaser of electoral bonds. https://thewire.in/political-economy/supreme-court-electoral-bonds-mmrda-megha-engineering
The Supreme Court has issued a stern directive to the Mumbai Metropolitan Region Development Authority (MMRDA), suggesting it re-tender two major infrastructure projects collectively worth approximately Rs 14,000 crore, or face a stay on the current process.
The warning on May 26 came during a hearing on appeals by Larsen & Toubro (L&T) Ltd, which contested its technical disqualification from the bidding for the Mumbai Elevated Road Project and the Road Tunnel Project, where Hyderabad-based Megha Engineering & Infrastructure Ltd (MEIL) emerged as the lowest (L1) bidder.
by Pavan Korada
28/05/2025
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.
- 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.
- The distinct presence of shell companies to facilitate this laundering.
- 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’.
- 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’.
- It allowed endangering public health in the country by condoning the violations of drug companies and allowed substandard drugs.
- 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
जानिए किस तरह की जांच हो सकती है Electoral Bonds पर | Explainer Video ExplainX https://www.youtube.com/watch?v=Ne5dXQk-NjM
Ever since the Electoral Bonds data is out in the public domain, there have been many media reports alleging Quid Pro Quo in political donations through bonds. The former investigating officers say that there are preliminary evidence to initiate investigation under the Prevention of Corruption Act. Know more about it in the video. Please like, share, subscribe the channel Here are the articles of various media reports on quid pro quo:
Keventer group gave BJP Rs 320 crore while ED case was hot https://www.reporters-collective.in/trc/keventer-group-gave-bjp-rs-320-cr Kolkata-based Keventer Group gave over Rs 320 crore to BJP in electoral bonds – half of its total donations ..In 2018, Congress leader Adhir Ranjan Chowdhury went to the Calcutta High Court seeking an inquiry against the state government for underselling 47% share in the joint venture to its partner Keventer Agro Limited at Rs 85.5 crore.
After Rs 170 crore to BJP, DLF got ‘clean chit’ in Vadra land deal from Haryana govt https://www.thenewsminute.com/news/after-rs-170-crore-to-bjp-dlf-got-clean-chit-in-vadra-land-deal-from-haryana-govt The state BJP government told the High Court in April 2023 that it had found no violations in the deals. As Vadra claimed vindication on social media, the Haryana government clarified that it had not given a “clean chit” to the parties accused.
UP firm gave Rs 10 crore to BJP less than a month after bagging contract for Kashmir tunnel https://www.thenewsminute.com/news/up-firm-gave-rs-10-crore-to-bjp-less-than-a-month-after-bagging-contract-for-kashmir-tunnel On December 19, 2019, Apco Infratech was issued a “letter of award” by the Union territory administration to execute the construction of the 6.4 km-long Z-Morh tunnel in Ganderbal district.
| "जहां घूसखोरी के लिंक निकालेंगे, तब कोर्ट monitored जांच होंगी" -Jagdeep Chhokar https://www.youtube.com/watch?v=MzbZw8Dzng4 the Founder member of Association for Democratic Reforms, Jagdeep Chhokar said the Unique Hidden numbers on Electoral Bonds will link the data between donors and political parties. He also said that investigative agencies will not probe on Electoral Bonds data, rather they will not be allowed to do so. Hence, a court monitored investigation is the only way forward and that can happen only if someone goes to the court with definite evidence of corruption derived from the Electoral Bonds data.
full playlist at ExplainX https://www.youtube.com/playlist?list=PL5Yuxoqwa4zvz2UdZpX2PzPAweOBjFWm_
Trinamool Congress Links Emerge in Future Gaming Lottery Winners, A Major Electoral Bond Contributor https://thewire.in/politics/trinamool-congress-links-emerge-in-future-gaming-lottery-winners-a-major-electoral-bond-contributor
The influx of funds into a regional party has far surpassed that of the century-old Congress party. It raises questions about the sources and motives behind these significant contributions,” said Congress leader Adhir Ranjan Choudhury. Interestingly, at least three significant jackpot winners of “Dear Lottery” had close links with the ruling party of the state, Trinamool Congress.
Before the Supreme Court struck them down as illegal on February 15, electoral bonds were paper instruments that anyone could buy from the State Bank of India and give to a political party, which could redeem them for money.
When the Modi government introduced the scheme in 2018, it claimed that electoral bonds would help clean up political finance in India by allowing donors to contribute money to parties anonymously.
Technically, yes. Unlike a bank cheque, the bond did not carry any names – no name surfaced in the banking system when the bond was redeemed. While this allowed a donor to remain anonymous, recent disclosures have made it clear that donors declared their identities to the parties while handing them over the bonds.
by Supriya Sharma & Project Electoral Bond
18/03/2024
Hours after the Supreme Court Bar Association (SCBA) president Adish C. Aggarwala wrote a letter to President Droupadi Murmu, urging her to intervene on the recent Supreme Court judgment on the electoral bonds scheme to protect the corporate houses who have funded political parties, the Association’s executive committee has issued a statement dissociating itself from the plea.
Aggarwala’s letter seeking presidential intervention to hold back the top court’s order on the electoral bonds case – an unusual move – came across as an attempt to protect the interests of corporates who have contributed funds to political parties. The highest percentage of corporate donations through the scheme was given to the ruling Bharatiya Janata Party (BJP).
On March 12, the SCBA executive committee, through a resolution, condemned the move and called it an attempt to undermine the Supreme Court’s authority. SCBA honorary secretary Rohit Pandey, in a written resolution of the committee, said the letter appeared to have been written by Aggarwala in his capacity as the chairman of the Association. “However, it is noticed that below his signature on that letter he has inter alia mentioned his designation as president of the Supreme Court Bar Association.”
“Therefore, it has become expedient for the executive committee of the Supreme Court Bar Association to make it abundantly clear that the members of the committee have neither authorised the president to write any such letter nor do they subscribe to his views as expressed therein.”by Sangeeta Barooah Pisharoty
14/03/2024