CEC: NEW PARTY FORMED EVERY OTHER DAY TO LAUNDER MONEY

The chief election commissioner (CEC) has asked the I-T department to stop giving exemption to parties that don’t contest elections because many of these outfits could be fronts to siphon off black money. The EC suspects many parties, which exist only on paper, might be taking advantage of legal loopholes to route dodgy cash. “There are over 1,900 registered political parties in India. After every two days a political party is registered. They hardly contest elections. Many of them are used as conduits for siphoning off black money,” CEC Nasim Zaidi said.