TMC-linked companies donated Rs 23 crore through electoral bonds

Three companies linked to former TMC MP Srinjoy Bose's family donated Rs 23.30 crore to ruling party in WB
TMC-linked companies donated Rs 23 crore through electoral bonds

Three companies associated with former TMC Rajya Sabha MP Srinjoy Bose's family made significant donations to the ruling party in West Bengal through electoral bonds. The total donation amounted to Rs 23.30 crore, distributed across 14 tranches ranging from Rs 1-3 crore each starting from July 2021.

Among these companies, Ripley & Co Stevedoring & Handling Pvt Ltd made the largest contributions, totaling Rs 11.50 crore in seven tranches between July 2021 and July 2023. Additionally, one of its directors, Prashant Kumar Jaiswal, contributed Rs 4.30 crore in two tranches from October 2023.

In January 2022, Netincon Marketing Pvt Ltd, another company owned by the Bose family, donated Rs 3 crore in bonds to the TMC. However, despite this contribution, the company reported a net profit of only Rs 22.30 lakh in the fiscal year 2021-22.

The third company, Arrow Projects Pvt Ltd, contributed Rs 4.5 crore in four tranches between October 2022 and July 2023. Records indicate that Arrow Projects registered a net profit of Rs 20.19 lakh in the financial year 2021-22.

Interestingly, there are no records of these entities donating electoral bonds to any party other than the TMC since April 2019. RoC records show that Srinjoy Bose resigned as a director of Ripley in 2010, transferring his 49% share to his mother, Sampa Bose, in 2014. Despite this, he continues to draw an annual salary of Rs 1.80 crore as a permanent employee of the company.

In Ripley, Srinjoy's brother Shoumik Bose holds a 43% stake, while Sampa Bose RSHPL Trust holds 40%. Prashant Jaiswal owns a 1.66% stake, and the remaining 15.34% is held by Energy Investments Ltd, a company with a UAE post box number.

Meanwhile, in Netincon Marketing, Srinjoy holds a majority 50.5% share, while his brother Shoumik holds 49.5%, along with his wife Rai Bose. Notably, Arrow Projects shares the same address and directors as Netincon Marketing.