The IT Raids on Megha Engineering Infrastructure Limited (MEIL) which is the frontrunner for bagging Polavaram Remaining Dam Works and Hydel Project Contract in Reverse Tendering, is still going on. The raids began at 4 AM on Friday and are still going on. Buzz is that ED may also join today or tomorrow.
Megha krishna reddy is close to the Chief Ministers of both the Telugu States. MEIL is the concessionaire of the Kaleshwaram Project. There are allegations that he has funded election expenses of TRS and YSR Congress in the recent elections. Meanwhile, CNN News18, a National Channel published a story saying that the hyderabad based firm gave more than ₹100 crore cash to AICC. The story said the cash was siphoned off through government expenditure using fake accounts. Searches at Megha engineering led to AICC office-bearers.
Megha krishna reddy is close to the Chief Ministers of both the Telugu States. MEIL is the concessionaire of the Kaleshwaram Project. There are allegations that he has funded election expenses of TRS and YSR Congress in the recent elections. Meanwhile, CNN News18, a National Channel published a story saying that the hyderabad based firm gave more than ₹100 crore cash to AICC. The story said the cash was siphoned off through government expenditure using fake accounts. Searches at Megha engineering led to AICC office-bearers.
It is surprising that MEIL MD, PV krishna reddy has given funds for Congress even as he is known to be very close to Telangana Chief Minister, K Chandrasekhara Rao. Congress is the Principal Opposition in Telangana and is known for making severe criticism on KCR's favoritism towards Megha.
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