The DMK, currently in power in Tamil Nadu, disclosed receiving a staggering Rs 656.5 crore via electoral bonds from April 19, 2019, to November 14, 2023, with the largest share of Rs 509 crore attributed to Future Gaming. In response to the Election Commission of India’s (ECI) directive, the DMK promptly reached out to its donors to collect requisite details.

While the BJP, the primary beneficiary of electoral bond donations, cited legal provisions to justify non-disclosure of donor particulars to the ECI, several smaller parties exhibited greater cooperation, proactively engaging with donors to ensure compliance with the Supreme Court’s directives.

In its communication to the ECI on November 14, 2023, the DMK stated, “The scheme… does not require the details of the donor to be furnished to the donee… Be that as it may, following the directions of Hon’ble Supreme Court, we contacted our donors and we were able to collect the details from them.”

Similarly, the Janata Dal (Secular) in Karnataka, which received Rs 50 crore from Megha Engineering, the second-largest purchaser of electoral bonds, expressed willingness to share donor information with the EC, emphasizing that most donations are made with prior knowledge.

“We, as a party, know who has purchased electoral bonds in our favor… Usually, the donations are done with prior knowledge. Sometimes, we seek funds from various companies during elections to fund poll activities,” remarked a senior JD(S) leader.

Besides the DMK and JD(S), other parties such as AIADMK, NCP, Jammu & Kashmir National Conference (JKNC), JD(U), AAP, Samajwadi Party, Sikkim Democratic Front, and Maharashtra Gomantak Party partially disclosed donor details to the ECI.

When approached for comment, NCP treasurer Hemant Takle refrained from elaborating, stating, “We don’t want to comment on it. All we had to say has already been provided.” Notably, the NCP disclosed Bharti Airtel Ltd and Serum Institute’s Cyrus Poonawala among its electoral bond donors in 2018-19.

Contrary to the BJP’s stance, the Congress informed the ECI of its request to the State Bank of India (SBI) to directly share donor identities with the Commission, as it lacked these particulars.

The disclosure by regional parties echoes past instances of transparency. For instance, the Jharkhand Mukti Morcha had voluntarily revealed a Rs 1 crore donation from Hindalco Industries Limited through an electoral bond in 2019-20. JMM spokesperson Supriyo Bhattacharya highlighted that the party became aware of the donor only when Hindalco approached them for a receipt.

The evolving narrative around electoral bonds underscores the intricate dynamics between political parties, donors, and regulatory authorities, signaling a broader discourse on transparency and accountability in political financing.