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NEW DELHI: It’s not only the big time infrastructure companies that have bought a substantial number of electoral bonds (EBs). There are several lesser known entities, specially in housing and construction sectors, which have made political donations through these bonds. But contrary to perception, most of these firms don’t have any issues with enforcement agencies.
As per data shared by SBI with the EC, a lesser known Hyderabad-based real estate company, Sri Siddharth Infratech and Services, purchased bonds of around Rs 61 crore. Several infrastructure firms, including in the irrigation and water supply arena, that have purchased are headquartered in Hyderabad. These include Koya and Construction Company and Hes Infra, which have purchased bonds worth Rs 20 crore and Rs 25 crore respectively.
Two other Hyderabad-based infrastructure majors — NCC and Navayuga Engineering — have bought bonds worth Rs 60 crore and Rs 55 crore respectively. The details of bonds bought by firms also show that Welspun, which is into road construction, has purchased EBs worth Rs 55 crore and another Kolkata-based company, Sasmal Infra Pvt Ltd has bought Rs 44 crore bonds since Nov 2023. Similarly, Gurgaon-based Apco Infratech, which is implementing several road and highway projects, has bought EBs worth Rs 30 crore since Jan 2020 while Dinesh Chandra Agrawal purchased bonds worth Rs 18 crore.
A quick reading of the list shows that real estate major, DLF purchased of EBs worth Rs 170 crore on six different dates. Another Pune-based firm specialising in housing, institutional and commercial projects, B G Shirke Construction bought bonds worth Rs 115 crore. Dhariwal Infrastructure Ltd, a wholly owned subsidiary of RP-Sanjiv Goenka (RP-SG) group of companies, bought bonds worth Rs 115 crore on seven different dates.
Another group of firms specialising in the power sector — Jaipur-based Genus Power and Genus Power Infrastructures Ltd- bought bonds worth Rs 38.5 crore.
The data revealing a good number of infrastructure companies buying EBs comes at a time when the country is witnessing hectic construction activities across sectors and high govt spending on infrastructure projects. This has helped the emergence of many new players.
While the revelation of bonds purchased by the companies has snowballed into a political controversy just ahead of the Lok Sabha election amid allegations of ‘quid pro quo’, some of the top executives of infrastructure companies dismissed the allegations. “These purchases have been made officially and following the laid down procedure. Almost all govt contracts are bid out through e-tendering and the bidder quoting the lowest amount gets the work,” said one of them.
According to the details put out by the EC in public domain, Lucina Land Development Ltd, a subsidiary of Indiabulls, has purchased EBs of Rs 20 crore. Two other real estate firms — Aqua Space and My Home Infra — have bought bonds worth Rs Rs 15 crore and Rs 24 crore.
As per data shared by SBI with the EC, a lesser known Hyderabad-based real estate company, Sri Siddharth Infratech and Services, purchased bonds of around Rs 61 crore. Several infrastructure firms, including in the irrigation and water supply arena, that have purchased are headquartered in Hyderabad. These include Koya and Construction Company and Hes Infra, which have purchased bonds worth Rs 20 crore and Rs 25 crore respectively.
Two other Hyderabad-based infrastructure majors — NCC and Navayuga Engineering — have bought bonds worth Rs 60 crore and Rs 55 crore respectively. The details of bonds bought by firms also show that Welspun, which is into road construction, has purchased EBs worth Rs 55 crore and another Kolkata-based company, Sasmal Infra Pvt Ltd has bought Rs 44 crore bonds since Nov 2023. Similarly, Gurgaon-based Apco Infratech, which is implementing several road and highway projects, has bought EBs worth Rs 30 crore since Jan 2020 while Dinesh Chandra Agrawal purchased bonds worth Rs 18 crore.
A quick reading of the list shows that real estate major, DLF purchased of EBs worth Rs 170 crore on six different dates. Another Pune-based firm specialising in housing, institutional and commercial projects, B G Shirke Construction bought bonds worth Rs 115 crore. Dhariwal Infrastructure Ltd, a wholly owned subsidiary of RP-Sanjiv Goenka (RP-SG) group of companies, bought bonds worth Rs 115 crore on seven different dates.
Another group of firms specialising in the power sector — Jaipur-based Genus Power and Genus Power Infrastructures Ltd- bought bonds worth Rs 38.5 crore.
The data revealing a good number of infrastructure companies buying EBs comes at a time when the country is witnessing hectic construction activities across sectors and high govt spending on infrastructure projects. This has helped the emergence of many new players.
While the revelation of bonds purchased by the companies has snowballed into a political controversy just ahead of the Lok Sabha election amid allegations of ‘quid pro quo’, some of the top executives of infrastructure companies dismissed the allegations. “These purchases have been made officially and following the laid down procedure. Almost all govt contracts are bid out through e-tendering and the bidder quoting the lowest amount gets the work,” said one of them.
According to the details put out by the EC in public domain, Lucina Land Development Ltd, a subsidiary of Indiabulls, has purchased EBs of Rs 20 crore. Two other real estate firms — Aqua Space and My Home Infra — have bought bonds worth Rs Rs 15 crore and Rs 24 crore.
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