Hyd firms Sahiti Constructions, Green Metro Infratech are top funders of TRS, donations dropped by 95 % in 2020-21

It is pertinent to note that from Rs. 89.55 crore in 2019-20, the funding for TRS fell to Rs. 4 crore the following year, a drop of 95%. The party’s major funding comes via electoral bonds that were missing in 2020-21.The plunge might have a direct impact on TRS’s status as India’s second-richest regional party.

By Coreena Suares  Published on  17 Feb 2022 10:55 AM GMT
Hyd firms Sahiti Constructions, Green Metro Infratech are top funders of TRS, donations dropped by 95 % in 2020-21

Hyderabad: Two city-based firms – Sahiti Constructions and Green Metro Infratech & Project Private Limited – are TRS's top funders for the financial year 2020-21. The ruling party received Rs. 4.15 crore during the COVID-19 second wave and these two companies contributed a major portion of it.

With its head office in Jubilee Hills, Green Metro Infratech & Projects – a real estate developer – gave the TRS Rs. 2 crore. The group, represented by Ashok Boddu, Naga Venkata Aditya Boddu, and Baby Rani Boddu, has ventures in Dundigal, Suraram, and Varadaiahlapalem Sri City.

Besides this, Ashok babu and Baby Rani donated Rs. 34 lakh and Rs. 15 lakh, respectively. If the personal contribution is also taken into consideration, the total amount donated by the group to the TRS comes to Rs 2.49 crore, revealed the contribution report submitted by the TRS to the Election Commission of India (ECI).

Sahiti Construction, located in Jubilee Hills, Road no. 36, donated Rs. 1.15 crore to the TRS. However, the current status of Sahiti Constructions Private Limited is "Strike Off" which means the business has been removed from the registrar of companies. Though the names of directors have been removed from the official company documents, the trail indicates that the directors hold ownership in more than 20 companies.

TRS funding nose dive by 95%

It is pertinent to note that from Rs. 89.55 crore in 2019-20, the funding for TRS fell to Rs. 4 crore the following year, a drop of 95%. The party's major funding comes via electoral bonds that were missing in 2020-21. The plunge might have a direct impact on TRS's status as India's second-richest regional party.

In 2019-20, the total assets of the ruling TRS, including fixed deposits, investments, and others, stood at Rs. 301.407 crore. The Association for Democratic Reforms (ADR), an election watch body based in New Delhi, has studied the assets and liabilities of national and regional political parties registered with the Election Commission of India. The report concludes that a high stack of TRS' wealth comes from electoral bonds – 'unidentified sources' – followed by individual contributions, party membership fee, and immovable assets.

The breakup of funds indicates that 68.34% of TRS funds were raised via electoral bonds which is categorized as 'unknown'.

YSRCP received Rs. 96 Cr from unknown sources

Unlike the TRS in Telangana, the Andhra Pradesh Chief Minister Y.S Jagan Mohan Reddy-led YSRCP received a whopping Rs. 96. 25 crore. The party's contribution report revealed that Rs. 96 crores was received via electoral bonds and Rs. 25,000 was donated by one Nagender Prasad from Hyderabad.

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