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Ambanis, DLF, Tata set up 'Electoral Trusts' to fund parties

New Delhi: Top corporate houses, including Reliance Group, Birla Group, Tata Group and DLF have established 'Electoral Trusts' to offer funds to political parties, Parliament was informed today.These trusts are being registered under a new

PTI [ Updated: March 20, 2015 21:30 IST ]
ambanis dlf tata set up electoral trusts to fund parties
ambanis dlf tata set up electoral trusts to fund parties

New Delhi: Top corporate houses, including Reliance Group, Birla Group, Tata Group and DLF have established 'Electoral Trusts' to offer funds to political parties, Parliament was informed today.

These trusts are being registered under a new framework that enables applicable tax benefits for funds given to various political outfits.

These groups have set up their respective 'Electoral Trusts' under the Electoral Trust Scheme put in place by government in 2013.

The corporate houses that have set up their respective 'Electoral Trusts' include Anil Ambani-led Reliance Group, Sunil Mittal-headed Bharti Enterprises Ltd and Kolkata-based KK Birla Group of Industries, Corporate Affairs Minister Arun Jaitley said in a written reply to Lok Sabha.

Besides, Kalyani Group, Kotak Mahindra Group, Tata Sons Ltd, Murugappa Group and DLF Group have also set up their respective 'Electoral Trusts', he added.

 

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