New Delhi: A recent analysis of data released by the Election Commission of India has uncovered India’s leading lottery company, led by a controversial businessman, as the primary purchaser of electoral bonds. Among other notable buyers are Hyderabad-based infrastructure giant Megha Engineering & Infrastructures Limited, a Reliance-linked company QwikSupply Chain, mining conglomerate Vedanta, and a subsidiary of the Kolkata-based Sanjiv Goenka group, among others.
Future Gaming and Hotel Services, a prominent lottery giant, emerged as the top purchaser, acquiring 1,208 bonds amounting to Rs 1,208 crore. The company, with a turnover of Rs 7,000 crore, is headed by Martin Santiago, commonly known as ‘Lottery King’ Martin. However, Future Gaming has been under investigation for alleged money laundering activities.
Following closely behind is the Megha group of companies, which includes Megha Engineering & Infrastructures Limited (MEIL) and Western U.P. Power Transmission Company Ltd (WUPPTCL). MEIL purchased 966 bonds, each worth Rs 1 crore, totaling Rs 966 crore, while WUPPTCL acquired bonds worth Rs 220 crore, bringing the Megha Engineering’s total contribution to Rs 1,186 crore. The Hyderabad-based Megha group has secured numerous government projects, notably including roles in the Rs 1.15 lakh crore Kaleshwaram Lift Irrigation Project in Telangana and the Rs 14,400 crore Thane-Borivali Twin Tunnel Project in Maharashtra.
Qwik Supply Chain Private Limited, headquartered in Maharashtra, emerged as another significant buyer, acquiring bonds worth Rs 410 crore. Notably, one of the company’s directors, Tapas Mitra, also holds directorial positions in various Reliance-affiliated entities.
Other notable purchasers include Haldia Energy Limited, Vedanta Limited, and Yashoda Super Speciality Hospital based in Uttar Pradesh’s Ghaziabad.
This report is part of a collaborative effort involving three news organisations – Newslaundry, Scroll, The News Minute – and freelance journalists and is subject to further developments.
