MEIL’s Political Donations and Infrastructure Projects Revealed Through Electoral Bonds Data

Megha Engineering and Infrastructures Ltd (MEIL) came into the spotlight following the release of the Electoral Bonds data by the State Bank of India, revealing substantial political donations made by the company. MEIL, formerly known as Megha Engineering Enterprises, was established in 1989 by Pamireddy Pitchi Reddy in Hyderabad, Telangana. The data disclosed that MEIL, along with associated companies like Western UP Power Transmission Company Ltd and SPEC Power, had procured a total of Rs 1,200 crore in electoral bonds between 2019 and 2023.

Under the leadership of Reddy and his nephew, P V Krishna Reddy, MEIL has grown into a prominent industrial conglomerate, handling significant infrastructure projects both in Telangana and across India. Forbes listed P P Reddy and P V Krishna Reddy as the 54th richest in India, with an estimated net worth exceeding billions of dollars.

MEIL’s involvement in landmark infrastructure ventures, such as the Zojila Tunnel, Asia’s longest bi-directional tunnel connecting Srinagar and Ladakh, has garnered widespread recognition. Additionally, the company’s subsidiary, Olectra Greentech, has made impressive strides in the electric vehicle sector with more than 3,000 buses in its order book.

Despite its achievements, MEIL has faced scrutiny over its role in the Kaleshwaram Lift Irrigation Scheme. Recent reports, including an audit report by the Comptroller and Audit General, have raised concerns about potential financial irregularities involving crores of rupees. These revelations have sparked political controversy, with accusations from both Congress and the Bharatiya Janata Party against the ruling Bharat Rashtra Samithi party.