A Kolkata-based lottery firm, Tiger Associates, provided Rs 260 crore in political donations to Tamil Nadu's primary political rivals, the DMK and AIADMK, during the 2025-26 financial year. According to filings submitted to the Election Commission, this figure represents a significant increase from the Rs 110 crore the firm contributed to the two parties in the previous fiscal year, bringing its total donations over two years to Rs 370 crore.
The firm's contributions accounted for nearly 74 per cent of the Rs 352.55 crore in total combined funding reported by the DMK and AIADMK for 2025-26. Specifically, the AIADMK received Rs 135 crore across six transfers, which constituted approximately 84 per cent of the party's total reported contributions of Rs 161.36 crore. The DMK received Rs 125 crore through 14 separate transfers, representing over 65 per cent of its total reported contributions of Rs 191.19 crore.
Corporate records indicate that Subbayan Nagarajan, the designated partner of Tiger Associates, is a long-term business associate of lottery magnate Santiago Martin. While Martin’s company, Future Gaming and Hotel Services, was previously the largest purchaser of electoral bonds—contributing Rs 509 crore to the DMK before the Supreme Court invalidated the scheme in February 2024—current disclosures do not confirm that Martin personally financed the contributions made by Tiger Associates.
In addition to Tiger Associates, three electoral trusts also contributed to the two parties. Prudent Electoral Trust donated Rs 25 crore to the DMK, while Triumph Electoral Trust provided Rs 15 crore to the DMK and Rs 5 crore to the AIADMK. Jaybharath Electoral Trust contributed Rs 4 crore to the DMK and Rs 3 crore to the AIADMK. Combined, Tiger Associates and these three trusts accounted for Rs 312 crore, or roughly 88.5 per cent of the total contributions reported by the two parties.
Despite the increased funding from Tiger Associates, the DMK's total reported contributions fell from Rs 365.82 crore in 2024-25 to Rs 191.19 crore in 2025-26. The party's previous year's filings had included over Rs 300 crore in cash contributions, largely attributed to its Party Development Fund. Many of the donations recorded in the latest filings were made in February and March 2026, shortly before the Tamil Nadu assembly elections, which resulted in the DMK losing power to the TVK, a party established by actor-politician Vijay.
