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Industrialist Sabu M. Jacob on March 20 (Wednesday) said the purchase of electoral bonds by his company was in accordance with the existing laws in the country. He clarified that he had not accepted any favour from any government over it.
Mr. Jacob, who is also the chief coordinator of Twenty20, said his company was not among those institutions that had made contributions to political parties to indulge in corruption.
Jacob has been at loggerheads with the CPI(M) for some time, and his justification on the purchase of electoral bonds comes amid reports that rival parties would raise the matter against Twenty20 in the run-up to the Lok Sabha polls.
Mr. Jacob also said he would put an end to all activities of Twenty20, if it was found that he had accepted any illegal favour from any State government or the Centre.
He admitted that the apparel major Kitex Group, owned by him, had bought electoral bonds for various political parties but did not divulge further details, saying the issue was pending before the Supreme Court. “We have not accepted any favour or assistance from anyone illegally,” he added.
Asked whether making contributions to political parties was a deviation from the proclaimed stand of Twenty20, Mr. Jacob said business and politics should be seen separately.
He asserted that the politics put forward by Twenty20 was against conventional political parties who “plunder the country and exploit the common people.”
Noting that his business establishment was a public limited company, he said all its activities, including the purchase of electoral bonds, were transparent.
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