who-are-the-business-giants-that-bought-electoral-bonds-future-gaming-and-megha-engineering-top-the-list

The Election Commission of India recently released data via the State Bank of India, detailing both the purchasers and the political parties that redeemed the bonds. 

The primary purchasers of electoral bonds include notable entities such as Future Gaming and Hotel Services, colloquially known as the 'Lottery King', and Megha Engineering, among others.

 

Future Gaming and Hotel Services, a prominent player in the lottery industry, has procured 1,208 bonds amounting to a staggering Rs 1,208 crore. Headed by Martin Santiago, also recognized as the 'Lottery King', the company, with an annual turnover of Rs 7,000 crore, has faced scrutiny for alleged money laundering activities.

 

Following closely, the Megha group of companies, comprising Megha Engineering & Infrastructures Limited (MEIL) and Western U.P. Power Transmission Company Ltd (WUPPTCL), emerged as significant contributors, investing a total of Rs 1,186 crore in electoral bonds. MEIL, securing 966 bonds valued at Rs 1 crore each, constitutes a substantial portion of this contribution.

 

Headquartered in Hyderabad, the Megha group has secured various government projects, including prominent ventures like the Kaleshwaram Lift Irrigation Project in Telangana and the Thane-Borivali Twin Tunnel Project in Maharashtra.

 

Qwik Supply Chain Private Limited, based in Maharashtra and associated with Reliance Group, purchased electoral bonds worth Rs 410 crore, adding to the diverse array of buyers. Yashoda Super Speciality Hospital from Uttar Pradesh invested Rs 162 crore in electoral bonds, while mining giant Vedanta Limited, with a purchase of Rs 399 crore, showcased significant participation despite its history of controversies, including environmental concerns.

 

Other noteworthy purchasers include Haldia Energy Limited, Essel Mining and Industries Ltd, Keventer Foodpark Infra Limited, MKJ Enterprises Limited, and Madanlal Ltd, with investments ranging from Rs 180 crore to Rs 375 crore. These companies operate in various sectors such as energy, mining, food processing, and steel.