Political Contributions by Yes Bank Defaulter groups
Sai Krishna Muthyanolla
May 7, 2020
The finance minister mentioned the names of some of the defaulters of Yes Bank in a recent press conference. We track if these companies or their group concerns have donated to political parties in the past.
Following the recent Yes Bank crisis, the Finance Minister Nirmala Sitharaman had briefed media on the crisis and named some of the top defaulters of the bank. During the briefing, the Finance Minister highlighted that Yes Bank gave loans to ‘very stressed corporates’ before 2014 and mentions Anil Ambani Group (Reliance Group), Essel Group (of Subhash Chandra), DHFL (Dewan Housing Finance Corp. Ltd.), Infrastructure Leasing & Financial Services Ltd. and Vodafone as some of the defaulters.
In a media briefing, Aam Aadmi Party leader Sanjay Singh claimed that the defaulters of Yes Bank are friends of BJP. He outlined some of the major defaulters of yes bank, as outlined by the Finance Minister in her briefing, and juxtaposes it with their contributions to BJP.
In another statement, Kirit Somaiya, Founder-President of IGF, former BJP MP and current Vice President of BJP’s Maharashtra Unit, enlisted the names of 10 companies which are the major defaulters as: Reliance Anil Dhirubhai Ambani Group, Essel Group, DHFL Group, IL&FS, Jet Airways, Cox & Kings, Go Travel, B M Khaitan Group, Omkar Realtors, Radius Developers, CG Power Thapar Group.
As there are no other official statements or a press release on the names of Yes bank defaulters, we take cue from the above statement and trace the political contributions of these top defaulter groups to major political parties. The collection of information in this regard is not an exhaustive exercise as only the name of top defaulters has been revealed in the public domain. Given the available names, we have checked the donations made to political parties with connections to these defaulters. There are two types of connections:
The data has been sourced from Election Commission website – contribution reports of political parties and electoral trusts. The master data for all registered companies was sourced from Ministry of Corporate Affair’s website to understand common directorships companies and larger defaulter groups.
Please note: The data below is not an exhaustive compilation, as many companies and their connections to the defaulter groups could not be clearly established. The tables display only those companies for whom the connection could be established with available data in the public domain. We have also left out donations made by these companies/groups to electoral trusts who in turn donated to various political parties.
Contributions to BJP by defaulter Groups
The total contribution to Bhartiya Janata Party (BJP) from Yes Bank defaulter groups amounts to ₹ 15,80,80,000 i.e. around 15.81 crores.
Financial Year
Donor Name
Contribution to Political Party (in ₹)
YES Bank Defaulter Group
2007-08
Essel Corporate Resource Pvt. Ltd.
30,000
Essel Group
2014-15
RKW Developers Pvt. Ltd
10,00,00,000
DHFL Group
2014-15
Radius Developers LLP
50,00,000
Radius Developers
2015-16
Pan India Paryatan Limited
50,000
Essel Group
2016-17
Essel Infra Projects Ltd
1,00,00,000
Essel Group
Omkar Realtors and Developers Pvt Ltd
1,50,00,000
Omkar Realtors and Developers
Zee Entertainment Enterprises Ltd
2,00,00,000
Essel Group
Dish TV
50,00,000
Essel Group
Pan India Network Ltd.
30,00,000
Essel Group
Essel Corporate Resource Pvt. Ltd. is mentioned the Essel Group’s website and the company shares common directorships with Essel Group companies listed here. Pan India Paryatan Limited, Essel Infra Projects Ltd, Zee Entertainment Enterprises Ltd, Dish TV, and Pan India Network Ltd. are part of the Essel Group companies listed here. RKW Developers Pvt. Ltd is a DHFL group company. It shares common directorships with DHFL group companies listed here. Radius Developers LLP is the company name of Radius Developers. Omkar Realtors and Developers Pvt Ltd is the company name of Omkar Realtors and Developers.
Contributions to INC by defaulter Groups
The total contribution to Indian National Congress (INC) from Yes Bank defaulter groups amounts to ₹ 10 lakhs.
Financial Year
Donor Name
Contribution to Political Party (in ₹)
YES Bank Defaulter
2015-16
Jetair Pvt Ltd
10,00,000
Jet Airways
Jetair Pvt Ltd is mentioned as a group company of Jet Airways, as listed here.
Contributions to Shiv Sena by defaulter Groups
The total contribution to Shiv Sena from Yes Bank defaulter groups amounts to ₹ 10 lakhs.
Financial Year
Donor Name
Contribution to Political Party(in ₹)
YES Bank Defaulter
2016-17
Omkar Ventures Pvt Ltd
10,00,000
Omkar Realtors and Developers
Omkar Realtors and Developers Pvt Ltd is the company name of Omkar Realtors and Developers.
Contributions to MNS and NCP by defaulter Groups
The contribution to Maharashtra Navnirman Sena (MNS) from Yes Bank defaulter group amounts to ₹ 25 lakhs and to Nationalist Congress Party (NCP) amounts to ₹ 16 lakhs.
Financial Year
Donor Name
Contribution to Political Party (in ₹)
YES Bank Defaulter
MNS
2014-15
Radius Developers LLP
25,00,000
Radius Developers
NCP
2017-18
Radius Estate & Developers Pvt Ltd
16,00,000
Radius Developers
Radius Developers LLP is the company name of Radius Developers. Radius Estate & Developers Pvt Ltd shares common directorships with Radius Developers LLP.
Featured Image: Yes Bank Defaulter groups