Anil AggarwalImage Credit source: File Photo
You must remember that song from the film Style.. It is not in the pocket, one rupee is asked to eat chicken curry.. Or that old saying.. People don’t have grains to feed them. Why are we telling you all. Actually the matter is something like this. Vedanta, the company of veteran billionaire businessman Anil Agarwal, is under the burden of debt. In such a situation, a report came in which it was told that the same Vedanta has donated not 120 crores but 457 crores to the political parties of the country.
According to the Economic Times report, Anil Agarwal’s company Vedanta has donated electoral bonds worth Rs 155 crore to political parties in the financial year 2023. At the same time, in the last 5 years, this company has donated 457 crores in the form of electoral bonds to political parties. This information has been revealed in the disclosure given by the company to the stock exchange.
457 crores donated like this
Electoral Bond Scheme was launched in the year 2008 as an alternative to cash donation. Since then, it has been used a lot in the form of donation. According to the disclosure given by Vedanta to the stock exchange, the company has donated Rs 65 crore in FY 2019, Rs 114 crore in FY 2020, Rs 123 crore in FY 2022 and Rs 155 crore in FY 2023 to political parties. All these donations have been made in the form of electoral bonds.
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How much debt on Vedanta Group
This is a matter of donation. Now let us tell you how much debt the company has. You can guess the trouble of Vedanta from the fact that the company has to repay its debt of about Rs 16,350 crore by next year. While in the next three years, the company has to pay off a debt of about Rs 38,420 crore. However, taking lessons from Ambani and Adani, the head of Vedanta has started a plan to become debt free. But the special thing here is that the company which has so much debt, why is it distributing such huge donations to political parties.
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