At least 43 firms newly incorporated in the year 2018 or later have bought electoral bonds worth over Rs 384.5 crore. Of them, four companies, all established in 2023 in Hyderabad, bought bonds worth crores of rupees, just a few months after getting established. As many as nine firms in 2020 and eleven companies in 2021, which were formed in the middle of the pandemic, had cumulatively purchased bonds worth close to Rs 100 crore, in just one or two years after getting formed.
The company information and date of incorporation are based on the Ministry of Corporate Affairs’ (MCA) database. The names of the companies which had purchased electoral bonds were matched with names of the firms available in the MCA database to draw out the list of newly incorporated firms.
