New Delhi: The electoral bond data released by the Election Commission shows that the Aditya Birla group firms donated Rs 100 crore to the BJP six days after the government announced a relief package for struggling telecom companies in September 2021, The News Minute reported.
Vodafone Idea, or Vi, jointly owned by the British firm Vodafone Plc and Aditya Birla group, was reportedly reeling mainly from debt at the time, owing Rs 2.14 lakh crore to banks, financial institutions, and mostly to the Indian government.
The package announced by the government allowed telecom players to ‘convert a part of their government debt into equity held by the government’, which Vi opted for in January 2022.
Even as the loss mounted as the year went by, the telecom operator announced on December 6 of not hearing from the government about the move, according to the report.
What followed next was the Modi government converted a debt of Rs 16,000 core into equity in February 2023, within two months of the donation.
The move turned the Indian government the largest shareholder in Vi, the report said.
Three firms of the group: Birla Carbon India Private Limited, Utkal Alumina International Limited and ABNL Investment Limited reportedly bought the electoral bonds.
Donating Rs 556 core to electoral bonds made the Aditya Birla group one of the top donors to political parties between April 2019 and January 2024 and of the money spent Rs 285 crore went to the BJP.
The Indian conglomerate also donated Rs 264.5 crore to the ruling Biju Janata Dal in Odisha where the company has mining, metal, and chemical interests.