The recently released electoral bonds data by the Election Commission of India has brought to light an intriguing connection involving Navayuga Engineering Company Private Limited, the firm responsible for constructing the Silkyara Tunnel in Uttarkashi, which tragically collapsed on 12 November 2023. The data reveals that Navayuga Engineering had acquired electoral bonds totaling at least Rs 55 crore.The collapse of the Silkyara Tunnel led to a harrowing situation where 41 construction workers were trapped inside for over 16 days before their eventual rescue efforts were successful.According to the electoral bonds data disclosed by the ECI on 14 March, following a directive from the Supreme Court, Navayuga Engineering purchased electoral bonds amounting to Rs 45 crore in 2019. Additionally, they acquired bonds worth another Rs 10 crore in 2022. Notably, the company procured the initial Rs 30 crore in electoral bonds, consisting of 30 individual bonds valued at Rs 10 crore each, on 18 April 2019.The companys financial activities had drawn attention previously, as evidenced by a raid conducted at their premises by the Registrar of Companies in July 2018 regarding an alleged money laundering case. Subsequently, in October 2018, the Income Tax department carried out a raid at Navayuga Engineering Cos Hyderabad premises on suspicions of tax evasion.Upon scrutinizing the electoral bond data released by the ECI, The Quint discovered that all the bonds acquired by Navayuga Engineering Company were in the denomination of Rs 1 crore each. In 2019, Navayuga Engineering Company Limited obtained 45 electoral bonds valued at Rs 1 crore each. The data also shows that the same company, listed as Navayuga Engineering Co Ltd, procured an additional 10 electoral bonds of Rs 1 crore each in 2022.The majority of their bonds, a total of 30, were acquired on 18 April 2019, followed by 15 bonds on 10 October 2019, and the remaining 10 bonds on 10 October 2022. Notably, there is no data linking Navayuga Engineering Company to electoral bond purchases for the years 2023 and 2024.Its important to note that the electoral bond data provided by the State Bank of India to the ECI spans from 1 April 2019 to 15 February 2024, shedding light on significant financial transactions within this period.
