2024-04-15 08:15:30
New Delhi: Officials of Megha Engineering & Infrastructure Ltd, which was ranked second in the list of those making maximum donations in the electoral bond scheme, have been accused of corruption. CBI has registered an FIR against Hyderabad-based Megha Engineering and Infrastructure Limited. The company is accused of allegedly paying bribes to pay the bills. Megha Engineering is the same company which had donated Rs 586 crore to the Bharatiya Janata Party. Apart from BJP, it has donated crores of rupees to many parties including BRS, DMK. According to the data released by the Election Commission on March 21, Megha Engineering had given the maximum donation of about Rs 586 crore to BJP. The owner of this company is PP Reddy. PP Reddy is included in the list of billionaire businessmen of the country. He comes from a farmer family.
property worth crores
PP Reddy started the company by the name of Megha Engineering Enterprises from a shed in Balanagar, Hyderabad with a capital of just Rs 5 lakh. They made pipes for municipalities. His nephew joined the company two years later. After this, both the people gradually started working in the construction of roads and small infrastructure projects. In the year 2006, the name of the company was changed to Megha Engineering and Infrastructure Limited (MEIL). According to Forbes, PP Reddy’s net worth is around Rs 19,230 crore.
Diamond House
PP Reddy lives in a ‘diamond shaped’ house in a residential area of Hyderabad. His house looks like a diamond. Now his house is counted among the historical places of the city. PP Reddy’s farmhouse also has a golf course. One of the most popular projects of Megha Company is the construction of Zojila Tunnel, which provides all-weather connectivity between Ganderbal in Kashmir and Dras in Kargil. The cost of its project is around Rs 25,000 crore. The business of this company is spread in many countries.