Hyderabad-based infrastructure giant Megha Engineering and Infrastructure Ltd. (MEIL) has become a significant contributor to political parties through the controversial electoral bond scheme. Data released by the Election Commission of India (ECI) reveals that MEIL purchased a staggering 966 electoral bonds, each worth Rs 1 crore, between April 2019 and January 2024. Notably, 60% of these bonds, amounting to 584, were directed towards the Bharatiya Janata Party (BJP).
This revelation comes after the State Bank of India (SBI), on March 21, released comprehensive information on the electoral bond scheme, including unique identification numbers for each bond. While the SBI has withheld KYC details of donors and political parties, citing "cyber security reasons," the alphanumeric codes associated with the bonds allow for the identification of both parties involved in the transaction.
The data further reveals that MEIL's contributions were not limited to the BJP. The company also donated to:
BJP: 584 bonds
BRS: 195 bonds
DMK: 85 bonds
YSRCP: 37 bonds
TDP: 28 bonds
NC: 18 bonds
BPD: 10 bonds
JD: 5 bonds
JSP: 4 bonds
This disclosure underscores the importance of transparency in political funding and the need for continued scrutiny of electoral bond transactions. . The ECI's data release provides a rare glimpse into the opaque world of electoral bonds. It highlights the need for greater transparency in political funding to ensure fair and ethical elections.