Electoral Bonds: Megha Engineering, Embassy Group account for 80% of JD(S) donations

Over 80 per cent of the donations received by regional party Janata Dal (Secular) or JD(S) through electoral bonds until April 2023 stemmed from two entities: Megha Engineering & Constructions Pvt Ltd and Embassy Group.

The party, founded by ex-prime minister HD Deve Gowda, registered these contributions in documents submitted to the Election Commission of India (ECI).Megha Engineering & Constructions contributed Rs 50 crore, and Embassy Group donated Rs 22 crore.

The former Hyderabad-based company ranked as the second-largest purchaser of electoral bonds, following lottery company Future Gaming and Hotel Services, as per the data given by State Bank of India to the ECI.

Other significant contributors to the JD(S) included Shankaranarayana Constructions Ltd and JSW Steel, each donating Rs 5 crore. Amar Raj Groups contributed Rs 2 crore, Shahi Exports Pvt Ltd Rs 1.5 crore, and Infosys Rs 1 crore.

Since March 2018 and up until April 18, 2023, JD(S) reportedly received Rs 89.75 crore from electoral bonds. The documents submitted to the ECI purported that an additional Rs 2.5 crore of electoral bonds came from Biocon Ltd. 

However, Kiran Mazumdar-Shaw, its executive chairperson, clarified on social media platform X (formerly Twitter) that she personally purchased the bonds and made donations to the JD(S) and several other parties, not the company itself.

Despite the documents claiming differently, data from the State Bank of India to the ECI registered neither Biocon nor Mazumdar-Shaw as a purchaser of electoral bonds. Irrespective, Mazumdar-Shaw acquired and donated electoral bonds amounting to Rs 6 crore.

JD(S) is one of the few political parties such as Aam Aadmi Party, Maharashtrawadi Gomntak Party, etc., that disclose the names of their donors. Other parties have affirmed that donor information is not readily available.

Janata Dal (United) (JD(U)) revealed that it was unknowledgeable of donors who donated Rs 10 crore worth of bonds. However, JD(U) did disclose the identities of two of its donors — Shree Cement Limited and Bharti Airtel, each contributing Rs 2 crore and Rs 1 crore respectively.