Electoral bonds: BJP received crores from loss-making companies who got tax exemption, says Sanjay Singh

With the 2024 Lok Sabha elections just around the corner, Aam Aadmi Party (AAP) MP Sanjay Singh has hit out at the BJP over the electoral bonds scheme, alleging electoral corruption.

According to an NDTV report, the AAP leader listed out companies and made charges against the party for "misusing poll bonds". Speaking at a press conference, Singh said there are six companies who have donated amounts that are higher than their profits to the BJP.

The AAP leader also questioned how 33 companies have "incurred losses" yet donated over Rs 450 crore to the BJP. He also said many of these companies received tax exemptions, and there are three companies which donated more than Rs 28 crore to the BJP.

"There are 33 companies which in seven years have incurred a loss of Rs 1 lakh crore. However, these companies have given Rs 450 crore in donations to the BJP through electoral bonds or after getting tax exemptions," the AAP leader alleged.

"In the second category, 17 out of 33 companies have either paid zero taxes or received tax exemptions," he alleged. “Six companies have given the BJP Rs 600 crore in donations. One company has given three times more donations than its profits. One company has given 93 times more donations than its profits. Three companies have paid Rs 28 crore in donations and zero taxes.”

The AAP leader went on to say that Bharti Airtel, which has incurred a loss of Rs 77,000 crore during 2017-23, has given Rs 200 crore in donations to the BJP and received a tax exemption of Rs 8,200 crore.

“DLF has given Rs 25 crore to BJP, but it has also incurred a loss of Rs 130 crore in seven years. It received a tax exemption of Rs 20 crore. Steel Static Engineering has given Rs 12 crore in donations, but has incurred a loss of Rs 150 crore in seven years and received a tax exemption of Rs 160 crore,” said Singh.

Singh further claimed, "Dhaliwal Infrastructure purchased bonds worth Rs 115 crore and gave Rs 25 crore to the BJP, but paid zero taxes, and it has incurred a loss of Rs 299 crore in seven years."

“PRL Developers gave Rs 10 crore out of a Rs 20 crore bond to the BJP, received a tax exemption of Rs 4.7 crore, but incurred a loss of Rs 1,550 crore. Similarly, Ujwala Pharma, which is Sharat Reddy's company, gave Rs 15 crore to the BJP in donations, incurred a loss of Rs 28 crore, and received a tax exemption of Rs 7.20 crore,” Singh said.

He added that Maitra Energy gave the BJP around Rs 10 crore out of a Rs 19 crore bond, but it had incurred a loss of Rs 86 crore in seven years, and also received a tax exemption worth Rs 126 crore.

With agency inputs