Abiding by the strict orders of the Supreme Court, the Election Commission of India (ECI) published detailed Electoral Bonds data on its official website. The Electoral Bonds data was handed over to the ECI by the SBI and it contained a list of companies who donated crores of rupees to political parties. This second list of electoral bonds made public reveals how much funding each political party received, and what part of it they received during the financial year 2019-20. As per the Electoral Bonds Data, BJP encashed electoral bonds totaling Rs 6,986.5 crore; of which Rs 2,555 crore were received in 2019-20. BJP was followed by TMC which received Rs 1,397 crore through electoral bonds and Congress was on third number. Talking about the highest paying firm as per Electoral Data, Future Gaming and Hotel Services Pvt Ltd was at the top with Rs 1350 crore to various political parties. Megha Engineering and Infrastructure is at number 2 donating over Rs 950 crore. Now, the question who is the face behind Megha or Megha Engineering and Infrastructures Limited (MEIL)? Below is what we know so far-
Megha Engineering and Infrastructures Limited (MEIL) or let's say Megha was the largest donor of the BJP over the past five years, purchasing about 6.7 billion rupees ($81 million) of electoral bonds, as revealed by data. As revealed by electoral bonds data, Megha or MEIL made its first donation in April 2019 and its last one in October 2023. In total, the company purchased bonds worth Rs 966 crore between 2019 and 2023.
Notably, True Scoop News tried to dig more about Megha which is the top donor of the BJP and it found out that P.V. Krishna Reddy is the Managing Director of privately held Megha Engineering and Infrastructure. Now, the question arises who is P.V. Krishna Reddy? Below is everything you need to know-
As per Forbes, P.V. Krishna Reddy's net worth is $2.2 billion and he is currently serving as the MD of MEIL. Megha Engineering and Infrastructures Limited is a Telangana-based industrial conglomerate. It was established in 1989 as Megha Engineering Enterprises by Pamireddy Pitchi Reddy. However, in 1991, Reddy's nephew P V Krishna Reddy joined the company and now runs it. P.V. Krishna Reddy reportedly changed the company's name to Megha Engineering & Infrastructures in 2006. As per Forbes, Reddy is a resident of Hyderabad and has two kids.
Going by MEIL's LinkedIn Profile, the company profile says, "MEIL operates through its major business lines such as water management, engineering, construction, manufacturing, transportation, hydrocarbons, power, process industries, and defense. MEIL strives to utilise the indigenous technological innovations for the common benefit of all sections of society."
Talking about famous projects that have been built by Megha Engineering include one of the largest irrigation projects of India worth $14 billion in drought-prone Telangana. The project became operational in 2019. In 2023, P P Reddy ranked 54 in the Richest Indians list as per Forbes. Megha Engineering's other prominent project was the Zojila Tunnel near the Himalayas. Megha Engineering & Infrastructures Limited completed the 5-km-long tunneling work as part of the 18-km-long all-weather Zojila Tunnel in January 2022. Zojila project, Asia's longest bi-directional tunnel, ensures connectivity between Srinagar and Ladakh.
It is pertinent to mention here that MEIL is also building an underground bullet railway station beneath Mumbai's Bandra-Kurla complex for The National High-Speed Rail Corporation Limited.
MEIL's official website says, "The transport advancements also extend to railways, as seen in the Chardham Railway Tunnel, India's longest and highest railway tunnel. Covering 32 km between Rishikesh and Karnaprayag, this tunnel is a significant endeavor for MEIL. It is executing an underground bullet railway station beneath Mumbai's Bandra-Kurla complex for The National High-Speed Rail Corporation Limited. This underground railway station is equipped with six floors at a depth of 24 meters, and it uses modern Japanese Shinkansen technology in executing this project."
In October 2019, the Income Tax Department The income tax department authorities carried out raids at multiple offices of noted industrialist and contractor Krishna Reddy’s Mega Engineering Infrastructure Limited (MEIL) in Hyderabad and other cities. The report quoted an MEIL official saying that the IT raid was carried out as a routine checkup.