Key Points
Instead, it ended up potentially compromising corporate governance standards by enabling the flow of funds between companies through various kinds of financial arrangementswithout limits and without adequate disclosures..
. Madanlal Ltd bought electoral bonds worth a total of 186 crore..
Two other companies of these groupsMKJ Enterprises and Keventer Foodpark Infra Ltdseparately bought electoral bonds worth 192 crore and 195 crore, respectively..
More interestingly, while the electoral bonds data, which starts from 12 April 2019, shows Madanlal bought bonds amounting to 186 crore, the companys annual reports show it spent 440 crore on donations between 2017-18 and 2019-20..
Like Madanlal, there are several companies whose purchases of electoral bonds show a mismatch with their running scale of operations and profitability..
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Mumbai's electoral bond love: 66 companies collectively bought Rs 1,344 crore of poll bonds since 2019
20, Mar, 2466 companies from Mumbai region bought electoral bonds worth Rs 1,344 crore since 2019, 11% of India's total poll bonds sold. Small businesses participated, Maharashtra's share was Rs 1,562 crore. Pune, Nashik, Kolhapur made contributions. Analysis excluded Mumbai individuals' bond purchases.