After the Electoral Bond details were published by the Election Commission of India on the orders of the Supreme Court of India, there has been an effort to paint the donations using white money through banking channels as a means of corruption. It has been alleged by many from the opposition parties, left-liberal media houses and social media users that the donations by companies using Electoral Bonds were made in exchange of favours received from BJP government.
One such company that has been particularly targeted is Megha Engineering & Infrastructures Limited, the company that spent the second-highest amount in electoral bonds, after Future Gaming And Hotel Services Private Limited. Several politicians, activists and social media users had claimed that Megha Engineering won big projects in exchange of donations made to BJP.
However, now it has been revealed that the Congress party received accounted money from the company. During the hearing of Congress party’s petition in its Income Tax case, the Delhi High Court revealed that the search documents recovered from Megha Engineering Group appeared to indicate unaccounted transfers to Congress.
While there are evidence of account money received by Congress from various entities, the court made special reference to Megha Engineering & Infrastructures Limited. As per the court, the search documents recovered from the company appear to indicate unaccounted transfers to the political party during assessment years 2017-18 to 2020-21.
The search documents recovered from the Megha Engineering Group appears to indicate unaccounted transfers to Congress: High Court
— Bar & Bench (@barandbench) March 22, 2024
As per the court observations, the documents collected by the I-T dept show that money received from the company were paid to the candidates contesting the upcoming Lok Sabha elections on Congress party’s tickets. The court noted that there is detailed reference to payments allegedly made to MPs, MLAs and candidates.
The Court while refusing to dismiss Income Tax reassessment proceedings against the party said that there is evidence that the Congress party received money from government departments and corporations, liquor manufacturers, industry entities and individuals.
The Income Tax case reveals that the Congress party received substantial amounts in donations by cash, potentially receiving black money. While the party has been calling the Electoral Bond scheme a scam, where all the money goes through State Bank of India, the party was receiving unaccounted money in cash.
Notably, several opposition leaders and others from the left-liberal camp were alleging Quid Pro Quo in the donations made by Megha Engineering to BJP through electoral bonds. On 15th March, Shiv Sena (UBT) leader Priyanka Chaturvedi had alleged Quid Pro Quo via electoral bonds saga, alleging that Megha Engineering won bids for a large number of projects due to its donations to BJP.
Here’s Megha Engineering and its subsidiaries’ Acche Din after becoming the big donor for BJP.
— Priyanka Chaturvedi🇮🇳 (@priyankac19) March 15, 2024
There’s more to unravel in this entire Quid Pro Quo via electoral bonds saga. The role of ED aka Extortion Department has also been stellar. pic.twitter.com/XfneG7Z6rU
She further claimed that the company bagged at least ₹26,000 crore of mega infrastructure projects in Maharashtra after the Eknath Shinde govt came to power in the state.
Supreme Court advocate Prashant Bhushan, who advocated for the release of electoral bond data, also claimed that Megha Engineering contributed the maximum to the BJP in return for the huge infrastructure contracts.
On 11 April 23, Megha Engineering gives 100s Crs in #ElectoralBonds to whom? But within a month it gets a 14,400 cr contract from BJP’s Mah govt! Though SBI has hidden Bond numbers from the info, some of donors & parties match can be guessed. Most donations seem a quid pro quo pic.twitter.com/KoiZss64Dl
— Prashant Bhushan (@pbhushan1) March 14, 2024
Maharashtra AAP leader Kanishk Jadhav had also made similar allegations.
Isn't it quid pro quo?
— Kanishk Jadhav (@kanishkajadhav) March 14, 2024
Second biggest electoral Bond donor company -Megha Engineering grabs major infrastructure projects from Modi Government!
BJP was trying to hide all this through SBI.
Love You Supreme Court! ❤️#ElectoralBondsScampic.twitter.com/BSxQk0Vx6K
In the detailed electoral bonds data released on 21 March, it has been revealed that the company donated ₹582 crore to BJP. It also gave ₹185 crore to BRS and ₹85 crore to DMK. All the parties that received donations through electoral bonds received the money through legal means. The Electoral Bond Scheme was a valid donation before the Supreme Court struck it down. The donations came through banking channels and the donors were required to comply with KYC norms.
Moreover, despite the allegations of Quid Pro Quo, the fact remains that the company won the contracts through transparent tendering and bidding process, and so far, nobody has alleged that those contracts were awarded illegally. Generally, the losing bidders move court if they doubt any wrongdoing in the bidding and awarding processes, but there is no reports of any such allegations over contracts awarded to Megha Engineering.
Also, the company has also made substantial donations to non-NDA parties like BRS, DMK and YSR Congress. Therefore, all the allegations of Quid Pro Quo over Electoral Bonds are just baseless allegations.
