Megha Engineering Infrastructure Limited (MEIL) which is the frontrunner for bagging Polavaram Remaining Dam Works and Hydel Project Contract in Reverse Tendering, is under the scanner of Income Tax Department. MEIL is also undertaking several projects in Telangana.
IT raids which began at 4 AM on Friday at the residences and offices belonging to MEIL MD, PV Krishna Reddy and are yet to conclude even today. Megha Krishna Reddy is close to the Chief Ministers of both the Telugu States and 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.
