After the State Bank of India (SBI) was forced to provide full details of ELectoral Bonds transactions to the Election Commission due to the intervention of the Supreme Court, the BJP has emerged as the biggest beneficiary.
BJP has received donations worth over Rs 6,000 crore in the last four years of the scheme, and has received funds from several corporates and individuals. Among those donors, Megha Engineering, based in Telugu states has emerged as the second largest contributor to the bonds.
This company has contributed to the tune of Rs 1232 crore towards Electoral Bonds, of which Rs 669 crore, amounting 54 per cent goes to BJP. It may be recalled that Megha Engineering promoters are said to be close to the previous ruling party in Telangana, BRS and also present ruling party in Andhra Pradesh, YSRCP.
Both BRS and YSRCP governments, besides BJP at the center, have been assigning several major infrastructure projects to this company. KCR assigned most of the prestigious infra projects, including Kaleshwaram to Megha. As a result it contributed to the tune of Rs 201 crore towards Electoral Bonds of BRS.
It provided Rs 37 crore to YSRCP. It also contributed to other major political parties also, keeping in view of their business interests. They include Rs 158 crore to Congress. The ruling party in neighbouring Tamil Nadu DMK also got Rs 85 crore from them.
In Andhra Pradesh, Megha contributed Rs 25 crore to the main opposition party TDP, Rs 17 crore to Congress and Rs 14 crore to Jana Sena. Moreover, the promoters of the company are reportedly playing the role of facilitator for political negotiations between BJP, BRS and YSRCP, in Telugu states. After BJP, BRS is the prime beneficiary of Megha Engineering contribution to Electoral Bonds.
