Scroll reported that seven pharmaceutical companies received drug-quality notices or had quality findings in years when they bought electoral bonds. The timing raises questions about political finance and regulatory oversight, but the reporting does not show that donations caused regulators to act—or not act—or establish a quid pro quo.
What the investigation found
Scroll’s investigation, published March 18, 2024, identified seven companies whose bond purchases overlapped with reported drug-quality findings or regulatory notices. The examples concern particular products, samples and dates; they do not establish that every batch or medicine made by any of the companies was defective.
The amounts below are company-level purchase totals reported by Scroll. They are not a breakdown of how much each political party received.
| Company | Reported bond purchases | Drug-quality examples cited by Scroll |
|---|---|---|
| Hetero Labs and Hetero Healthcare | Rs 60 crore: Rs 40 crore in April 2022, then Rs 10 crore in July 2023 and Rs 10 crore in October 2023 | Remdesivir samples with issues including discoloration, insufficient quantity or failure to meet standard quality; Itbor and Monocef were also mentioned. |
| Torrent Pharma | Rs 77.5 crore between May 2019 and January 2024 | Deplatt-150, Losar H, Nicoran LV and Lopamide were cited. |
| Zydus Healthcare | Rs 29 crore between 2022 and 2023 | A Zydus remdesivir sample was reported as not of standard quality after bacterial endotoxin traces were found. |
| Glenmark | Rs 9.75 crore in November 2022 | Telma was flagged as substandard. |
| Cipla | Rs 39.2 crore since 2019 | Examples included RC cough syrup and Cipremi remdesivir. |
| IPCA Laboratories Limited | Rs 13.5 crore between November 2022 and October 2023 | Lariago was reported to have lower-than-required chloroquine phosphate levels. |
| Intas Pharmaceutical | Rs 20 crore in October 2022 | Enapril-5 failed a dissolution test. |
Scroll also reported that Telangana’s regulator did not act against Hetero after the company recalled a batch identified by Maharashtra. It reported no action by Gujarat concerning the cited Torrent findings and Zydus manufacturing unit. These are specific state-level accounts in the investigation, not a finding that regulators across India took no action.
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Read Scroll’s investigation and its underlying company and product reporting.
Which parties received the money?
The Scroll article supports the company purchase totals above, but those totals alone do not identify how much each party received from each company. It reports that 35 pharmaceutical companies contributed nearly Rs 1,000 crore to political parties through bonds, based on data released by the Election Commission of India on March 14, 2024. That sector-wide figure should not be treated as the total for the seven firms or as a party-by-party allocation.
A later Aaj Tak story published September 27, 2024 gives recipient-specific examples for several firms, but it covers a different set of claims and is not a direct reconciliation of Scroll’s seven-company dataset. It also reports that Torrent and Sun Pharma said medicines flagged in that separate report were counterfeit and were not manufactured by them. Those statements apply to the later report’s claims; they should not be silently attached to Scroll’s distinct product examples.
For a wider view of the scheme, the Association for Democratic Reforms’ 2026 report says bonds worth INR 165,181 million were sold from March 2018 through January 2024, and eligible parties redeemed 27,811 bonds worth INR 164,925 million. It separately reports INR 163,080.16 million in party receipts between FY 2017–18 and 2023–24, of which the BJP received INR 82,517.51 million, or 50.599%. These are different totals with different scopes and periods; they cannot be used as a company-to-party breakdown.
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Does the overlap prove favorable treatment?
No. The investigation establishes a reported overlap in purchase dates and drug-quality findings or notices. It does not establish that any company bought bonds to avoid enforcement, that a regulator changed its conduct because of a donation, or that a political party provided a favor in return.
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Scroll quoted experts raising concerns about regulatory oversight and political influence. Amar Jesani, editor of the Indian Journal of Medical Ethics, said: “We often see a lax approach by drug regulators, both at state and central level,” S Srinivasan of the All India Drug Action Network said: “Nobody believes that they did it for the love of democracy, elections or charity.” Malini Aisola of the network said political financing can enable pharmaceutical companies to secure “privileged access, power and influence in government policy making”. These are attributed opinions, not proof of a transaction or of regulatory interference.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why electoral-bond data is historical
Electoral bonds first went on sale in March 2018. ADR’s 2026 report says related data became public following the Supreme Court’s judgment. The scheme was struck down, so electoral bonds should be understood as a historical political-financing mechanism, not a current way to donate.
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ADR’s report provides scheme and party-receipt totals.
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