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Vedanta Limited, Rungta Sons Private Limited, Jindal Steel and Power (JSPL), Essel Mining and Industries Limited (EMIL), and Dempo, among other Indian mining and steel conglomerates, invested ₹825 crore in electoral bonds, according to Election Commission of India data.
Of these, ₹100 crore was given to Rungta Sons Private Limited, ₹376 crore to Vedanta Ltd, ₹224.5 crore to EMIL, ₹123 crore to JSPL, and ₹1.5 crore to Dempo for electoral bonds.
Significantly, ₹98 crore that Vedanta Ltd. contributed during the January 2022 window—just before the elections in Uttar Pradesh, Uttarakhand, Punjab, Manipur, and Goa—was included in the company's ₹376 crore contribution.
The conglomerate, known for its significant interests in iron ore, oil and gas, copper, aluminium, and steel, is represented by its subsidiary, Sesa Goa, among India's leading iron ore mining companies.
JSPL, which has extensive mining, power, and steel operations, primarily in Chhattisgarh, Odisha, and Jharkhand, made its donations between October 2022 and November 2023. Meanwhile, EMIL, part of the Aditya Birla Group, is reported to have pending statutory clearances for its Bunder Diamond project in Madhya Pradesh. The company purchased electoral bonds totalling ₹224.5 crore between 2019 and 2022, with significant amounts invested annually.
The report also illuminates MSPL Ltd, a key player in iron ore mining, which invested in electoral bonds worth ₹1 crore in April 2019 and ₹3 crore in April 2023. In January 2022, the company sought modifications to its project terms for its Iron Ore Processing Plant and Pellet Plant in Karnataka's Bellary district, which the Environment Ministry subsequently amended.
At the lower end of the spectrum, GHCL Limited, another Noida-based company, invested ₹50 lakh in electoral bonds in 2019. However, the Environment Ministry dropped the company's environmental clearance proposal for modernising its soda ash factory and captive power plant in Gujarat's Gir Somnath district in November 2019, citing non-responsive behaviour to ministry queries, the Indian Express report said.
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