The CBI has filed a case against Megha Engineering and Infrastructure Ltd. and eight officials from the Ministry of Steel’s NMDC Iron and Steel Plant over allegations of corruption during the ₹315 crore project’s execution for NISP. Following the recent disclosure of the data, Megha Engineering and Infrastructure Limited was identified as the second-largest purchaser of electoral bonds. MEIL, supported by PV Krishna Reddy and Pamireddy Pichi Reddy, bought bonds for ₹966 crore.
The CBI reportedly responded to a complaint alleging that two officials of MECOn Ltd. and eight officials of NISP/NMDC had accepted bribes in exchange for MNDC paying Megha Engineering and Industrial Limited.
Megha, a company based in Hyderabad, gained attention when it was discovered to be the second-largest donor under the electoral bonds programme. According to reports, the corporation received numerous project awards right away following its acquisition of electoral bonds. Meghal secured five significant projects between 2019 and 2023, in close proximity to the period it bought bonds, per research.
₹584 crore of its ₹966 crore in total purchases of electoral bonds went to the BJP. DNK redeems ₹85 crore, whereas BRS redeems ₹195 crore. YSR Congress, Telugu Desam, Congress, Janta Dal (United), Janta Dal (Secular), and Jana Sena Party were among the other parties who redeemed MEIL’s bonds.