ifb agro: why disclosure of IFB Agro’s political donations argues for a broader framework

Synopsis

Unable to do business calmly, the board of directors of IFB Agro, to everyone’s surprise, approved the purchase of election bonds as donations to political parties. The company has notified the stock exchanges of the board’s decision. Consulting firms have hailed the company’s move in favor of transparency. Is this enough or is it time to have proper guidelines for such donations?

Kolkata-based country liquor maker and bottling company IFB Agro Industries kicked off its fiscal year with a rather unusual stock market disclosure that has turned many heads in corporate and political circles. On April 1, 2022, the company notified the exchanges that its board of directors had approved donations to political parties in the amount of INR 40 crore by underwriting election bonds in 2022-23. It was the

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