Electoral bonds held unconstitutional by SC, probe needed: Prashant Bhushan

Dharamsala, May 21

Prashant Bhushan, senior lawyer of the Supreme Court (SC) of India, who is known for taking up issues of public interest, addressed a press conference here today. He spoke at length on electoral bonds, which were held unconstitutional in February 2024, by the apex court. He together with other activists have now filed a petition in the SC demanding a court monitored SIT to further probe the matter to uncover the corruption involved.

According to Prashant Bhushan details of electoral bonds that were put in the public domain subsequent to the historic judgement of the SC reveal trends that suggest large scale quid pro quo. The data shows that companies donated large sums of money through bonds to ruling parties in close proximity of getting projects. In addition to potential kickbacks, the data suggests regulatory inaction on companies that donated through electoral bonds and reveals potential money laundering, with loss making and shell companies donating funds to political parties.

Talking to The Tribune, Prashant said, “The data exposes cases of possible extortion, involving agencies like the Enforcement Directorate (ED), the CBI and the Income Tax Department. The electoral bonds scam is potentially the biggest corruption scam in the country, which requires a thorough probe by an independent body.”

Telangana firm mentioned in bond list

Prashant Bhushan has alleged that Megha Engineering, a Telengana- based company running Kundah Pumped (KU) Hydro Power project at Multhan also finds a mention in the list of companies mentioned in electoral bonds. This hydro power company was recently in news for the deluge on the bursting of the penstock severely affecting people living in four panchayats. According to an SC lawyer, this company gave Rs 1,000 crore to a national and a state-based political party to get projects worth several thousand crores.