Electoral Bond Claim Debunked, Delhi-Registered 'Hub Power Company' Not Affiliated with Pakistani Firm

The Factly says the confusion likely arose due to the similarity in names with the Pakistan-based Hub Power Company Limited (HUBCO)

Digital Desk: The claim suggesting that the BJP received donations from a Pakistan-based entity named 'Hub Power Company' has been debunked through a thorough fact-check by Factly. Contrary to the allegation, the 'Hub Power Company' in question is a proprietorship firm registered under the name 'Ravi Mehra' in Delhi since 2018. It has no affiliation with the Pakistan-based 'Hub Power Company Limited.' The Electoral Commission of India's disclosure confirms that this Delhi-based company purchased electoral bonds, but it's essential to clarify that it operates within India, not Pakistan.

The Factly says the confusion likely arose due to the similarity in names with the Pakistan-based 'Hub Power Company Limited (HUBCO).' However, the Indian entity has no connection to its Pakistani counterpart. To dispel any misunderstanding, the Pakistan-based company has issued a clarification, asserting its lack of involvement in the matter or that of any Indian-based company.

Under India's electoral bond scheme, any Indian citizen or organisation registered in the country can purchase these bonds, provided they meet the RBI's Know Your Customer (KYC) requirements. Additionally, foreign companies can contribute through their subsidiaries registered in India. Despite allegations of being a subsidiary of a Pakistani firm, no such connection was found upon thorough investigation by Factly.

The 'Hub Power Company' implicated in the political contributions is registered in Delhi. The claim linking it to a Pakistani firm is deemed false.