The Election Commission of India (ECI) recently released data on electoral bonds received by political parties. The Trinamool Congress (TMC) in West Bengal received funds from three particular companies that are linked to the family of former TMC Rajya Sabha MP Srinjoy Bose, since July 2021, as per the data.
MP Srinjoy Bose was previously arrested by the CBI on charges linked to the Saradha chit fund case. The report suggests that Bose donated Rs 23.30 crore in electoral bonds to the ruling party in 14 tranches of Rs 1-3 crore soon after the TMC won the 2021 Assembly polls and formed the state government in May, Indian Express reported.
MP Srinjoy Bose’s three companies
Ripley & Co Stevedoring & Handling Pvt Ltd: Between the period of July 2021 and July 2023, the cargo handling company donated Rs 11.50 crore in bonds to the TMC in seven tranches.
Srinjoy’s brother, Shoumik Bose (43%), Sampa Bose RSHPL Trust (40%), and Prashant Jaiswal (1.66%) collectively own an 85 per cent stake in Ripley. The remaining 15.34 per cent is held by Energy Investments Ltd, a company associated with a UAE post box number.
Netincon Marketing Pvt Ltd: The second company was Netincon Marketing which donated Rs 3 crore in bonds to TMC where “Srinjoy holds a 50.5 per cent share while his brother Shoumik holds 49.5 per cent with his wife Rai Bose,” says the Indian Express report.
Arrow Projects Pvt Ltd: The third company donated Rs 4.5 crore in bonds to the TMC in four tranches between October 2022 and July 2023. The company also shares its address and directors with Netincon Marketing.
Srinjoy’s time in politics
In 2011, Srinjoy assumed the position of TMC’s Rajya Sabha MP. However, in November 2014, he was arrested by the CBI on charges of criminal conspiracy, misappropriation of funds, and obtaining undue financial gains related to the Ponzi scheme associated with the Saradha Group.
Following his release on bail in February 2015, he promptly resigned from both his Rajya Sabha seat and TMC membership, citing a realization during his time in custody that politics was not his “cup of tea”.