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Megha Krishna Reddy gets TRS govt’s bounty!

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PV Krishna Reddy, popularly known as Megha Krishna Reddy, the owner of Megha Engineering and Infrastructures Ltd (MEIL) is the favourite contractor of Telangana and Andhra Pradesh governments, whichever party may be in power.

When in Opposition, TRS chief KCR and YSRCP chief YS Jagan used to lash out at the ruling parties in respective states of colluding with Megha Krishna Reddy and looting thousands of crores of rupees of public money by awarding all major contractors to Megha group.

But after KCR, Jagan became CMs, they too are awarding all the major contracts to Megha group.

KCR awarded Rs 1 lakh crore Kaleshwaram project contract and Rs 40,000 crore Mission Bhagiratha contract to Megha.

Similarly, Jagan awarded Polavaram contract to Megha.

Now, Megha group got yet another bounty from TRS government.

CM KCR approved doubling of project estimates of Mission Bhagiratha project to Megha group.

Earlier, a segment of Mission Bhagiratha work at Mallannasagar project was awarded to Megha for Rs 674 crore in January 2020.

But KCR has now approved the revision of work estimates to Rs 1,212 crore, which is almost double the original estimate raising questions over what could be the reasons for doubling estimates within 16 months.

This led to severe criticism from Opposition parties which are accusing KCR of taking huge commissions from Megha Group to award contracts as well as enhancing work estimates indiscriminately.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

Jagan breaks rules to allow Megha Krishna Reddy to enter AP!

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AP Chief Minister YS Jaganmohan Reddy while addressing AP people on Thursday made it clear that no one will be allowed into AP from other states during lockdown period and if anyone is given entry, they have to undergo corovirus tests. Some ministers in AP cabinet even went to the extent of issuing statements that anyone entering from AP from other states have to remain in isolation in quarantine centres for 14 days.

Jagan even orders sealing of state borders and said no one will be permitted to enter AP till lockdown period of April 15.Jagan appealed to everyone to stay where they are till April 15.

However, Jagan flouted his own rule by allowing Mega Group chairman Krishna Reddy into AP f on Friday to meet him to handover cheque of Rs 5 crore towards donation for AP government’s corona relief measures.

Everyone is clueless how Krishna Reddy entered AP because all border points were blocked and no connectivity whatsoever either air, rail or road.

Krishna Reddy on Thursday met Telangana CM KCR at Pragathi Bhavan in Hyderabad and handed over Rs 5 crore cheque. This proves that he travelled from Telangana to AP by crossing border points to meet Jagan.

Despite all these tough restrictions, Krishna Reddy managed to enter AP and meet Jagan and personally handed over cheque to him.

The same Jagan government denied entry to thousands of AP natives residing in Hyderabad, who were issued passes by TS government to move to their native places in AP. The AP natives got stuck up at border points for hours together at AP-TS border points for several hours after AP police refused entry for them. This forced AP natives to return Hyderabad again. Even if someone got entry, AP officials conducted medical tests and sent them to 14-day isolation in quarantine centres.

But, all these rules and restrictions did not obstruct Megha Krishna Reddy from entering AP, just because he is a rich person and a big contractor. Rules should be same for all. There should not be different rules for different people based on their stature in these difficult times of Coronavirus.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

IT raids continue on Megha Reddy for fifth day

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The Income-Tax officials are conducting in-depth enquiries into the property of Megha Krishna Reddy at Balanagar in Hyderabad. The raids continued on his residence and offices for the fifth day today. These are the longest raids being conducted on any industrialist in the recent days. It is being expected that the IT officials have got hold of something controversial. Otherwise, they would not have continued the searches for more than a day or two.

Initially, Megha Krishna Reddy’s executives dismissed the raids as just part of the general raids that are conducted once every two years. But with the continuing raids, even the employees of Megha Engineering and Infrastructure Ltd (MEIL) are now in a panic situation.

A team of IT officials from Delhi initially took part in the searches. Later, the local officials are continuing the raids. Lot of Central forces are posted at the spot to give security. The Megha staff are finding it difficult to keep the mediapersons away from the venue of the raids.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

IT search reveals Megha link to electric buses

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Surprising facts are coming to surface about how the Telangana State Road Transport Corporation got a supply of 40 new electric buses from Olectra Greentech. As per a latest report, IT searches on Megha Krishna Reddy revealed that his family got a stake in Olectra Greentech. What more, IT officials unearthed documents showing how Olectra pocketed Rs. 40 cr subsidy from the Central government. Actually, the TSRTC should get this subsidy. The Centre is giving 50 per cent subsidy for purchase of electric buses.

It is common knowledge that Megha Reddy and K Chandrasekhara Rao are close friends. This electric buses deal is giving rise to doubts whether KCR has really bigger plans to cripple RTC so as to benefit his friends and relatives. There was also a plan to bring in a bigger fleet of electric buses.

KCR himself talked about partial privatisation of RTC but now it is not being voiced in view of rising criticism. Reports say that IT officials have got proof to show that Megha Reddy acquired 50 per cent stake in Olectra Greentech. Krishna Reddy’s family members entered the Trinity Board as well.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

BIG BREAKING – IT raids on Megha Krishna Reddy

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As expected, the Income Tax department officials are carrying out raids on the properties of Megha Engineering Company Managing Director Krishna Reddy in Hyderabad. The searches began at his residence this morning and continuing.

The officials are suspecting that Krishna Reddy has not given correct details of his actual income from the huge contracts he bagged in recent years. The IT investigation wing officials are carrying out these searches.

Megha Krishna Reddy is known for his close relations with Telugu CMs KCR and Jaganmohan Reddy. Both the CMs are no longer having good relations with the Modi-Shah duo. However, Megha sources say that there is nothing political about the present searches. They assert that it’s part of the usual searches being conducted every two years. This is going on for the last 20 years.

But still speculation is rife that these IT searches are similar to those conducted against anti-BJP industrialists all over the country.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

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