Recently an under construction Flyover got collapsed in Kolkata killing 27 persons until now. A Hyderabad based company, IVRCL is the contractor of this Flyover. Cases were registered on the company, however they shamelessly defend that it is just an ‘Act of God’. There seem to YSR link to this incident too.
IVRCL and its Chairman Sudheer Reddy are almost non-entities before YSR came to power. Once YSR won the election, he supported them a lot and they grew by leaps and bounds. Jagan also holds few shares in the company and the company also came under CBI scanner during Jagan’s disproportionate assets case.
The company has worst track record in execution of the projects and even Kolkata Flyover contract dates back to 2009. Interestingly, IVRCL’s Bank Loans as of today is 12000 Crore with interests. The company officially donated money for YSR Congress as Party fund.
