Electoral Bonds Buyer 'Hub Power Company' is registered in Delhi, not a subsidiary of Pakistani firm - FACTLY
Sai Krishna Muthyanolla
March 15, 2024
Following the Election Commission of India’s publication of details related to the donations made to various political parties through electoral bonds, a viral social media post alleges that the BJP has received contributions from a Pakistan-based entity named ‘Hub Power Company.’ Accompanying the news is a screenshot purportedly showing the donations made by this company. This article aims to fact-check the assertions made in the post.
Claim: Electoral Bond buyer details revealed that BJP received donations from a Pakistan based company called ‘Hub Power Company’.
Fact: According to the GST portal, ‘Hub Power Company’ is a proprietorship firm registered under the name of ‘Ravi Mehra’. Established in Delhi in 2018, it bears no relation to the Pakistan-based ‘Hub Power Company Limited’. The latter has explicitly distanced itself from the Delhi-based company and any involvement with electoral bonds. Hence, the claim made in the post is FALSE.
The Electoral Commission of India (ECI) has unveiled information concerning the electoral bonds, in compliance with a Supreme Court mandate instructing the State Bank of India to furnish all bond-related data to the ECI. The data disclosed by the ECI does confirm that a company named ‘Hub Power Company’ bought electoral bonds, a couple of months after the Pulwama attack in 2019. However, it’s important to note that the company is not based in Pakistan but is registered in India.
Electoral Bond Scheme:
Under the current electoral bond scheme, these bonds are purchasable by any Indian citizen or organization registered in the country, provided they meet the RBI’s Know Your Customer (KYC) requirements. Additionally, a foreign company can contribute through its subsidiaries registered in India.
Given this, our search on the Ministry of Corporate Affairs portal did not result in any information regarding a private limited firm named ‘Hub Power Company.’ If the company were truly a subsidiary of a Pakistani firm as asserted, its details would be available on the ministry’s website. Nonetheless, we were unable to locate any such information.
However, a search on India Mart using the company name provided us with the GST number of the company in question. Following this lead, a subsequent search on the GST website provided us with details about a company bearing the same name. According to the information available, it is a company based in Delhi, registered in 2018. Notably, it is a proprietorship firm registered under the name ‘Ravi Mehra’. This confirmation dispels the notion that it is a subsidiary of any foreign company.
Pakistan’s ‘Hub Power Company’ issues Clarification :
There exists a power production company based in Pakistan known as ‘Hub Power Company Limited (HUBCO)’. The logo shared in the viral post corresponds to this specific company. However, it’s important to note that this company is not associated with the company under scrutiny.
Following the widespread circulation of news linking the Pakistan-based company to electoral bonds, the company has issued a clarification to dispel any misunderstanding. In their statement, the company asserted that they have no connection whatsoever to the matter or any company based in India.
pic.twitter.com/TIed2fBYvj
To sum it up, the ‘Hub Power Company’ that made political contributions is registered in Delhi and is not affiliated with any Pakistani company as a subsidiary.