Corporates can fund parties in a transparent way: Irani
Thursday, 04 November 2010, 06:15 IST
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Hyderabad: Making a pitch for "transparent" corporate financing to political parties during elections, a top Tata official today said any outfit needed to have a minimum of three per cent seats in the Lok Sabha in order to get funds from the company. "Governments in countries like Germany finance election funding for political parties. Since there is no such system in India, corporates can do it in a transparent manner," J J Irani, Director, Tata Sons said here. "We distribute the amount with certain rules. We don't give money to parties with one or two seats. The parties should have minimum of three per cent seats. If any party stands on a lesser number, it will not get money from Tata Election Fund (TEF)," Irani said in his inaugural address during a function at the Institute of Public Enterprise here.
Source: PTI
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