Electoral Bonds a scam, needs probe: Plea before Supreme Court
A petition has been filed before the Supreme Court, demanding the formation of a Special Investigation Team (SIT) to probe alleged quid pro quo arrangements between businesses and political parties through electoral bonds donations. The appeal, lodged by NGOs Common Cause and the Centre for Public Interest Litigation (CPIL), alleges a scam involving crores of rupees tied to the electoral bonds issue. The petitioners argue that this necessitates an independent investigation under the Supreme Court's oversight.
Most electoral bonds were part of reciprocal deals: Petition
The petition says that the alleged agreements were struck for a variety of reasons. Examples include obtaining government contracts or licenses, gaining immunity from investigations by the Central Bureau of Investigation, Income Tax Department, Enforcement Directorate, or in exchange for favorable policy changes. "The data...published by the ECI on its website exposed how quid pro quo arrangements have potentially been made between large corporates and political parties in the last 6 years through the...electoral bonds," the petition stated.
'Several unprofitable shell companies have been making significant donations'
The petition reveals that several unprofitable and shell companies have been making significant donations to political parties through electoral bonds. These shell companies were allegedly used as conduits to launder illegal money, it said. The document also referred to news articles about electoral bonds purchased by firms such as Megha Engineering and Infrastructures, APCO Infratech Private Limited (APCO), Future Gaming and Hotel Services, Grasim Industries, IFB Agro Limited, Infina Capital Private Ltd. (Infina), Aurobindo Pharma, Vedanta, and Bharti Airtel Limited.
What the petitioners are demanding
In light of these allegations, the petitioners are demanding a court-supervised SIT investigation into "instances of apparent quid pro quo between public servants, political parties, commercial organizations, companies..and others." They are also urging authorities to investigate the funding sources of shell companies and unprofitable firms donating to various political parties. Furthermore, they seek direction to reclaim amounts from political parties donated by companies as part of quid pro quo deals where these are found to be proceeds of crime.
