The Enforcement Directorate (ED) has launched fresh searches targeting Santiago Martin, a prominent Chennai businessman dubbed the ‘lottery king’, for alleged money laundering. Martin, who has contributed over ₹1,300 crore through electoral bonds, is facing scrutiny for his complex financial dealings, including suspected fraudulent lottery operations. This investigation follows a Madras High Court ruling that allowed the ED to proceed with its probe.
The Supreme Court will hear petitions demanding a probe into alleged electoral bond scam financing on July 22. The court previously dismissed the matter in February, but petitioners are seeking a special investigation team (SIT) under judicial supervision to investigate the allegations.
Union Home Minister Amit Shah has expressed apprehension about the potential increase in black money’s influence in the ongoing Lok Sabha elections following the Supreme Court’s decision to scrap the electoral bond scheme. He emphasized the need to find an alternative mechanism to mitigate this risk. Shah stated that the abolition of the scheme, which enabled anonymous donations to political parties through bonds purchased from the State Bank of India, occurred at a critical juncture. He believes that the absence of electoral bonds may exacerbate the influence of black money in politics.
The Supreme Court has assured advocate Prashant Bhushan that a petition to establish a Special Investigation Team (SIT) to investigate allegations of quid pro quo, corruption, and kickbacks in electoral bond disclosures will be heard soon. The petition, filed by Common Cause and the Centre for Public Interest Litigation, alleges that investigative agencies like the CBI, ED, and I-T Department have been compromised, as several companies under investigation have made substantial donations to the ruling party. The investigation aims to uncover the conspiracy involving company officials, government officials, political party functionaries, and potentially corrupt agency officers.
A petition has been filed in the Supreme Court seeking a court-monitored Special Investigation Team (SIT) probe into the alleged scam involving political financing through electoral bonds. The petition cites news reports and evidence of companies, including Megha Engineering, APCO, and Aurobindo Pharma, purchasing electoral bonds. The petitioners argue that these transactions violate the Prevention of Corruption Act and suggest quid pro quo arrangements with political parties.
The non-profit organizations Common Cause and Centre for Public Interest Litigation (CPIL) have filed a petition in the Supreme Court, demanding a special investigation team (SIT) probe under judicial supervision into an alleged scam in electoral financing using electoral bonds (EBs). The petition claims that at least 20 firms have contributed over ₹ 100 crore to political parties within three years of their establishment and provides evidence of substantial irregularities and potential violations of the Companies Act.
The State Bank of India’s disclosure of electoral bond scheme beneficiaries and major political donors has raised numerous unanswered questions. Despite the prohibition against purchasing electoral bonds, 20 new firms have made purchases. Moreover, 33 companies with a collective loss of over Rs 1 lakh crore donated nearly Rs 582 crores. Several companies donated sums exceeding their net profits. Additionally, several donor firms have faced regulatory actions from enforcement agencies.
