Firm That Built Collapsed Uttarkashi Tunnel Bought Rs 55 Crore Electoral Bonds

Navayuga Engineering Co. that built the Uttarkashi tunnel, bought Rs 55 crore electoral bonds, data reveals

Navayuga Engineering Co which was building the collapsed Uttarkashi tunnel, bought Rs 55 crore electoral bonds, data reveals

(Photo altered by The Quint)

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The electoral bonds data released by the Election Commission of India suggests that Navayuga Engineering Company Private Limited — the company that built the Silkyara Tunnel in Uttarkashi which collapsed on 12 November 2023 — had purchased electoral bonds worth at least Rs 55 crore.

Over 41 construction workers had then got stuck inside the collapsed tunnel, and their rescue had taken over 16 days.

As per the electoral bonds data, which the ECI uploaded on its website on 14 March after a Supreme Court order, the company bought electoral bonds worth Rs 45 crore in 2019, and bonds worth another Rs 10 crore in 2022.

Of this, they had bought the first sum of Rs 30 crore electoral bonds — in 30 individual bonds of Rs 10 crore denomination each — on 18 April 2019.

They had bought these 30 bonds worth Rs 1 crore each on 18 April 2019, shortly before the Lok Sabha Elections in May 2019.

In July 2018 as well, there was ar raid at their premises by the Registrar of Companies, in connection with an alleged money laundering case. In October 2018, the Income Tax department raided the Hyderabad premises of Navayuga Engineering Co over alleged tax evasions by the company.

Rescue officials during an operation to extract 41 workers trapped inside the collapsed Silkyara Tunnel in Uttarkashi. 

(Photo: PTI)

After analysing the electoral bond data released by the ECI, The Quint found out that all the bonds purchased by Navayuga Engineering Company were of Rs 1 crore denomination.

'Navayuga Engineering Company Limited' had purchased 45 electoral bonds worth Rs 1 crore each in 2019. The same company, mentioned as 'Navayuga Engineering Co Ltd' in the data, purchased another 10 electoral bonds worth Rs 1 crore each in 2022.

Navayuga Engineering Co. bought 30 bonds on 18 April 2019, 15 bonds on 10 October 2019, and 10 bonds on 10 October 2022.

(Screengrab of chart produced by Google Sheets)

It had bought the maximum 30 bonds on 18 April 2019, followed by 15 bonds on 10 October 2019, and the remaining 10 bonds on 10 October 2022.

In the years 2023 and 2024, no data linking the company to the electoral bond purchases could be found.

The electoral bond data which the State Bank of India shared with the ECI is from 1 April 2019 to 15 February 2024.