The Election Commission of India (EC), on March 14, disclosed the roster of entities that procured electoral bonds for contributions to political parties. This came after the Supreme Court of India directed the State Bank of India to complete its submission of data on March 12.
Now, with the lists revealed, leading the list of donors is a rather unknown company called Future Gaming and Hotel Services, helmed by "Lottery King" Santiago Martin.
Martin's charitable trust website narrates his journey, commencing as a labourer in Yangon, Myanmar, the Hindustan Times reported. In 1988, he returned back to India and established a lottery enterprise in Tamil Nadu.
Expanding across Karnataka, Kerala, and later into the northeast, he initially ventured into government lottery schemes, the report added. Over time, his business extended offshore, with ventures in Bhutan and Nepal.
Diversifying his portfolio to encompass construction, real estate, textiles, and hospitality, Martin emerged as the President of the All India Federation of Lottery Trade and Allied Industries, aiming to bolster and legitimise India's lottery trade, per the report. His enterprise, Future Gaming Solutions India, gained membership in the esteemed World Lottery Association, broadening into online gaming, casinos, and sports betting, the report said.
Future Gaming and Hotel Services' contributions to the Electoral Bonds Scheme (EBS) totalled ₹1,368 crore from 2019 to 2024. However, the Enforcement Directorate (ED) has been scrutinising the company since 2019 for purported breaches of the Prevention of Money Laundering Act (PMLA) law.
The ED's probes were marked by raids conducted in Coimbatore and Chennai in May 2023. Officials linked to the case told HT that the investigative agency's inquiry stemmed from a Central Bureau of Investigation (CBI) chargesheet. The chargesheet alleges Future Gaming's involvement in retailing Sikkim government lotteries in Kerala, causing a purported loss of ₹910 crore to the northeastern state between April 2009 and August 2010.
Other names on the list of EBS donors revealed by SBI and EC included prominent industrialists and businesses.
Among companies, Hyderabad-based Megha Engineering and Infrastructure emerged as a substantial contributor, with donations amounting to ₹966 crore.
Other names of purchasers encompass an array of entities, including Apollo Tyres, Bharti Airtel, CEAT Tyres, Cipla, DLF Commercial Developers, Dr Reddy's Laboratories, Edelweiss, Grasim Industries, IndiGo, ITC, Jindal Group, Keventer, Kaypee Enterprises, Phillips Carbon Black, Piramal Enterprises, PVR, Spicejet, Sula Wines, Sun Pharma, Torrent Power, Ultratech Cement, Vardhman Textiles, Vedanta, and Welspun.
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