Many companies in Hyderabad and Telangana used subsidiaries and affiliates in sectors like pharma and real estate to buy electoral bonds.
Many companies attempt to donate through multiple subsidiaries, avoiding disclosure of the main company's name. (The South First/Sumit Jha)
Between 2018 and 2024, during electoral bonds’ sale to political parties, the Hyderabad Main Branch of SBI emerged second-highest seller nationwide. It sold bonds totalling ₹3,554.9 crore, ranking just behind the Mumbai Main Branch, which sold bonds worth ₹4,009.3 crore. Many companies in Hyderabad and Telangana used subsidiaries and affiliates in pharma and real estate sectors to buy electoral bonds.