Here’s a shocker for us all, and this bears relevance with names like Reliance, Adani, and Ambani being tossed around ad nauseam by those (rightfully now) castigating the electoral bonds scheme; the list of electoral bond buyers published by the Election Commission of India bears no mention of "Reliance", "Adani" or "Ambani".
How is this even possible!!? This list has practically every one else!!Wtf!
Side note - no "TATA" on this list either!! Wondering what happened behind the scenes in the legal departments of these firms. Did they decide on not using this funding route because of the scheme being unconstitutional?
Dear moderators of LI - please show some editorial spine and publish this. Thanks 🙏🏼
You do realise that they could have bought the bonds in the name of the individuals and funded those by proxy anyway? As in there is no legal bar to that at all.
In other news, this list carries the name of Gurgaon-based corporate lawyer, Ronak Ajmera. See page 58! He and his entire immediate family have bought tonnes of them. Crazy!!
Was the Supreme Court's order of 12th April 2019 putting all prospective electoral bond purchasers to notice (of their identities being potentially disclosed) lost on Ronak Ajmera? If he's on this list, he deserves it. 60 lakhs for a 10-11 PQE lawyer is a lot of money. He must've just made partner at around that time. Really sad...
60 Lakhs INR baby and Ajmera has just 15 years PQE. All the Ajmeras on that list are his immediate family and this fact can easily be verified on social media.
Big deal! India mein yeh sab "chata hai". Koi post mortem nahi yoga, over how/ why a lawyer, then with 11 years PQE could/ would shell out over INR 60 LAKHS towards donation to a political party. You watch and see. This revelation will bear no consequence on the likes of Ronak Ajmera. The people who are, "part of the problem"; the vested interests they back are far more influential than Sherlocks like YOU! Ronak will carry on with his life, do what he does and thrive. In this country the likes of Ronak can and will shrug their shoulders and say - it was my "white money" that I donated to a political party of my preference under a scheme that was conceived under law. Deal with it.
When a corporate lawyer (then) with 11-12 years PQE burns over INR 60 lakhs worth of hard cash on electoral bonds in a covid year when salaries across the board were being cut/delayed, buys these bonds through his name and what appears to be his immediate family - then verifying the familial connections on social media, doing a kucha hisab and confirming that it's legit is justified stalking and reporting. Sue me. I challenge you.
I just matched Ronak Ajmera's Electoral Bond No 13463 of INR 10,00,000 (which is part and parcel of many more) - it went to the ALL INDIA TRINAMOOL CONGRESS.
Headline: Reliance denies link to third largest donor Qwik Supply.
Qwik Supply Chain Private Limited, a little-known company with a registered address at Navi Mumbai's Dhirubhai Ambani Knowledge City (DAKC) and having links to Reliance Industries, was the third largest donor to political parties using electoral bonds.
It bought ₹410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
parent company for qwiksupply is reliance. whatever white money donations are made- theyre made through subsidiary companies, black money contributions would be much much worse.
I think it was a Tata company that went to court for clarity on electoral funding when the Indira Gandhi govt went aggressive on corporate donations. That's where the story started concerning formal corporate funding of political parties. Probably, it was the Tatas who started the idea of setting up an electoral trust, which would maintain an arms-length from Tata companies. A complicated metric was developed wherein, the Tata companies would donate their bit to the electoral trust and then this trust would donate to the political parties based on some metric (no. of seats previously held, states represented etc).
The big ones already had well-oiled systems in place, which have been working fine for ages and are future-proofed. They didn't need to jump on this train. The formal and informal ways of funding will continue as before. So not a surprise that so "expected" names are missing.
It will be interesting to see which of the top ten donors contributed what amounts to TMC?
Controversial Kolkata businessman Mayank Jalan (Keventers) is among the top donors. Adhir Chowdhury had accused Mamata Banerjee of a big scam by disinvesting and selling him Metro (a popular ice cream and milk manufacturing PSU in Kolkata) for much less than the market value. So what do Mahua Moitra and Saket Gokhale have to say now?? And their fanboys/fangirls on LI?
What's there to say? All the parties in favour of the bond scheme have benefited from it. All of them are thieves, BJP the biggest of them all and so is TMC.
‘Lottery King’ Santiago Martin's TN-based firm tops electoral bond purchases with Rs 1,368 crores =================================================================================================
Agree with OP. The moderator (who is left-leaning) must show spine and allow this thread because the data absolutely nukes the claims being made by left-liberals.
Now you know the meaning of "raid and rescue", which also leads to "rest and recreation" for those who successfully execute the missions. Nothing new. Has happened in the past. Will continue in future.
Could someone explain why Dr. Adish C. Aggarwala, the President of the Supreme Court Bar Association is petitioning the CJI and President of India to set aside the portion of the judgment that directs the ECI to publish the bond purchasers? Is there any way in which I, as a member of the bar, could petition him to shut the F up?
The SCBA has already distanced itself. Maybe he is signalling something to the powers that be. Just like the lawyer from PH HC who made certain allegations concerning Jet Airways et al when Gogoi was caught (allegedly) with pants....
SBI is already trying to argue (and RBI may join in) that disclosing further details will violate its "fiduciary duty" towards customers and thus shatter customer confidence, which could potentially lead to business losses etc. This is already a standard defense by the banks for most of the RTIs.
By the way, why hasn't the SC been this pushy about disclosure when it involved banks be directed to disclose the list of its loans that have gone bad/putrid or "evergreened"?
You have fairly made a valid point. Then what's wrong with tax heaven jurisdictions where banks operate on secrecy model in the interest of their wealthy clients ? :) :)
On Marc 17, 2024, the TOI/ET reported that 50 Bengal based companies donated Rs 1600 crores including Rs 600 crore from the Jalans. But that's nothing compared to moolah that came via Sarada, Rose Valley and other Ponzi funds. BJP keeps howling hollow crusades, CBI/ED are investigating, TMC keeps winning and the Sheep (we) keep bleating!
Yes. This is because firms like this do not directly donate to political parties. They indirectly donate by setting up plants and projects in areas where the political parties want to bring the growth to. This is why Gujarat has tons of cheap solar while states like Karnataka have power cuts. Please apply some mind. Thanks.
Don't believe me? Well, here's the link - https://www.eci.gov.in/eci-backend/public/api/download?url=LMAhAK6sOPBp%2FNFF0iRfXbEB1EVSLT41NNLRjYNJJP1KivrUxbfqkDatmHy12e%2FzBiU51zPFZI5qMtjV1qgjFmSC%2FSz9GPIId9Zlf4WX9G%2FyncUhH2YfOjkZLtGsyZ9B56VRYj06iIsFTelbq233Uw%3D%3D
How is this even possible!!? This list has practically every one else!!Wtf!
Side note - no "TATA" on this list either!! Wondering what happened behind the scenes in the legal departments of these firms. Did they decide on not using this funding route because of the scheme being unconstitutional?
Dear moderators of LI - please show some editorial spine and publish this. Thanks 🙏🏼
https://www.eci.gov.in/disclosure-of-electoral-bonds
https://www.eci.gov.in/eci-backend/public/api/download?url=LMAhAK6sOPBp%2FNFF0iRfXbEB1EVSLT41NNLRjYNJJP1KivrUxbfqkDatmHy12e%2FzBiU51zPFZI5qMtjV1qgjFmSC%2FSz9GPIId9Zlf4WX9G9EkbCvX7WNNYFQO4%2FMjBvNyKzGsKzKlbBW8rJeM%2FfYFA%3D%3D
https://www.jsalaw.com/lawyers/ronak-ajmera/#people_experience:
Headline: Reliance denies link to third largest donor Qwik Supply.
Qwik Supply Chain Private Limited, a little-known company with a registered address at Navi Mumbai's Dhirubhai Ambani Knowledge City (DAKC) and having links to Reliance Industries, was the third largest donor to political parties using electoral bonds.
It bought ₹410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
Source: The Mint
https://www.livelaw.in/amp/top-stories/supreme-court-electoral-bonds-sbi-state-bank-of-india-252365
Reliance Industries (Qwik Supply Chain Pvt Ltd) donated around Rs. 410 crore through electoral bonds which is the 3rd largest donated amount.
The big ones already had well-oiled systems in place, which have been working fine for ages and are future-proofed. They didn't need to jump on this train. The formal and informal ways of funding will continue as before. So not a surprise that so "expected" names are missing.
It will be interesting to see which of the top ten donors contributed what amounts to TMC?
1. Why is a state government PSU donating to the TMC?
2. The Jalans were under a cloud over the sale of Metro Dairy to Keventers by the TMC govt for a low price, allowing them to make a killing. Any link?
=================================================================================================
https://www.newindianexpress.com/amp/story/states/tamil-nadu/2024/Mar/14/lottery-king-santiago-martins-tn-based-firm-tops-electoral-bond-purchases-with-rs-1368-crores
But Modi is fascist and must resign 🤡
https://thewire.in/politics/trinamool-congress-links-emerge-in-future-gaming-lottery-winners-a-major-electoral-bond-contributor
https://thewire.in/business/firms-showed-political-funding-as-miscellaneous-expenses-donations-but-often-skipped-mention-report
Headline: 3 of the top 5 donors bought electoral bonds with ED & IT knocking on their door.
https://indianexpress.com/article/india/3-of-top-5-donors-bought-electoral-bonds-with-ed-and-i-t-knocking-on-their-door-9214783/lite/
Headline: 14 Companies under ED/CBI scanner donated over Rs.4000 crore to political parties
https://www.livemint.com/news/india/sbi-electoral-bond-data-14-companies-under-ed-cbi-scanner-donated-over-rs-4-000-crore-to-political-parties/amp-11710493008447.html
Here's a small clue - INTAS PHARMACEUTICALS LIMITED
SBI is already trying to argue (and RBI may join in) that disclosing further details will violate its "fiduciary duty" towards customers and thus shatter customer confidence, which could potentially lead to business losses etc. This is already a standard defense by the banks for most of the RTIs.
By the way, why hasn't the SC been this pushy about disclosure when it involved banks be directed to disclose the list of its loans that have gone bad/putrid or "evergreened"?
https://thewire.in/politics/how-the-2021-bengal-assembly-election-victory-changed-tmcs-financial-fortune
https://thewire.in/business/despite-continued-losses-kolkata-based-avees-trading-contributes-rs-113-crore-to-electoral-bonds