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While many companies that donated to parties using electoral bonds also used the electoral trust route, there are some among the top 10 donors through trusts over the past five years, including COVID-19 vaccine-maker Serum Institute of India Pvt Ltd, Hyderabad-based electronics manufacturer Medha Servo Drives and ArcelorMittal Nippon Steel, who did not opt for the bonds that gave anonymity.
Among the top 10 donors through electoral trusts in 2022-2023, as per a report by the Association for Democratic Reforms, ArcelorMittal Nippon Steel donated Rs 100 crore and ArcelorMittal Design and Engineering Centre gave Rs 25 crore through Prudent Electoral Trust. While Arcelor’s name did not figure in the list of donors of electoral bonds released by the Election Commission last week, executive chairman and CEO of ArcelorMittal Lakshmi Niwas Mittal donated Rs.35 crore through EBs. The data showed he purchased the bonds on April 18, 2019, when the 2019 Lok Sabha elections were on. While Serum Institute was not in the list of EB donors, its founder Cyrus Poonawala did figure in the list of individual donors to the Nationalist Congress Party.
Medha Servo Drives gave Rs 30 crore and Medha Traction Equipment donated Rs 5.01 crore in 2022-23 through Prudent Electoral Trust. Both companies did not use the EB route. Serum Institute of India, the second largest donor through trusts in 2022-23, donated Rs 50.25 crore in 2022-23. Serum was also the fourth-largest donor in 2021-22, donating Rs 45 crore through Prudent Electoral Trust.
In 2021-22, ArcelorMittal Nippon Steel India and ArcelorMittal Design and Engg Centre Pvt Ltd were the top two donors through trusts with Rs 70 crore and Rs 60 crore respectively. GMR Hyderabad International Airport, which was among the top 10 donors through trusts in 2021-22 with Rs 20 crore donation, also did not figure in the list of EB donors.
In 2020-21, as per ADR, the top eight donors of electoral trusts had all donated through electoral bonds. Only the ninth and tenth biggest donors — Lakshmi Machine Work Ltd and Avinash Bhosale Group — did not purchase EBs. Among the top 10 donors in 2019-2020 for electoral trusts, Indiabulls Infraestate Ltd, Delhi International Airport Ltd, MIG Bandra Realtors and Builders and Abil Infra Projects Pvt Ltd did not buy EBs.
In 2018-2019, among the top donors of electoral trusts GMR Hyderabad International Airport, GMR Airport Developers, GMR Hyderabad Air Cargo and Logistics Pvt Ltd also did not buy EBs.
The Electoral Bond Scheme, introduced in 2017-18, allowed for anonymous donations by individuals and companies to parties. The Supreme Court struck down the scheme on February 15, finding it violative of the Right to Information. The court has ordered State Bank of India to make all data of donors and beneficiaries of EBs public.
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