India’s main lottery firm headed by a controversial businessman is the highest purchaser of electoral bonds, an preliminary evaluation of the information launched by the Election Fee of India reveals.
Different massive consumers embody Hyderabad-based infrastructure big Megha Engineering & Infrastructures Restricted, a Reliance-linked firm Qwik Provide Chain, mining conglomerate Vedanta and a subsidiary of the Kolkata-based Sanjiv Goenka group.
Lottery big Future Gaming and Resort Companies has purchased value Rs 1,368 crore. The Coimbatore-based firm with a turnover of Rs 7,000 crore is headed by Santiago Martin, also referred to as “Lottery King” Martin. The corporate has been beneath investigation for cash laundering.
The second-largest purchaser is the Megha group of firms, which purchased bonds value Rs 1,186 crore. This contains Megha Engineering and Infrastructures Restricted, which purchased 966 bonds value Rs 1 crore every, and Western UP Energy Transmission Firm Ltd, which purchased bonds value Rs 220 crore.
The Megha group is headquartered in Hyderabad and has gained a number of authorities tasks, together with the Kaleeswaram Carry Irrigation Challenge in Telangana, being constructed at a value of Rs 1.15 lakh crore.
Maharashtra-based Qwik Provide Chain Non-public Restricted purchased bonds value Rs 410 crore. One of many firm’s three administrators, Tapas Mitra, can be the director of Reliance Oil and Petroleum, Reliance Eros Productions, Reliance Photograph Movies, Reliance Hearth Brigades, and Reliance Polyester. In response to his Linkedin profile, he’s the top of accounts (consolidation) at Mukesh Ambani’s Reliance Industries Restricted.
Haldia Power Restricted, which is a part of the Sanjiv Goenka group, has purchased bonds value Rs 395 crores, whereas Vedanta Restricted, based by businessman Anil Agarwal and headquartered in Mumbai, contributed Rs 386 crores by means of bonds.
Essel Mining and Industries Ltd bought a complete of Rs 224.5 crore by means of electoral bonds. A part of the Aditya Birla Group, it’s among the many nation’s largest iron ore mining firms.
Keventer Foodpark Infra Restricted has bought electoral bonds to the tune of Rs 195 crore since 2019. The Kolkata-based agency is within the meals processing sector and exports pulp and agricultural merchandise.
One other Kolkata-based agency, MKJ Enterprises Restricted, dealing in metal, has bought bonds value Rs 180 crores. Its chairman and managing director is Mahendra Kumar Jalan, additionally a director with a number of Keventer firms.
Madanlal Ltd, which bought bonds to the tune of Rs 185.5 crore, is a part of MKJ Group and Keventer Group of firms. The corporate is engaged in buy and sale of securities and actual property sector.
It is a growing story. It is going to be up to date as further particulars can be found.
This report is a part of a collaborative undertaking involving three information organisations – Newslaundry, Scroll, The Information Minute – and freelance journalists.