Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

Income Tax Dept Carries Out Raids on Telangana CM's Close Associates' Construction Company

The I-T department raided Reddy's offices, residence and guest house in 15 locations in Hyderabad and also in the company's properties in Delhi and Mumbai.

PV Ramana Kumar | News18

Updated:October 11, 2019, 1:54 PM IST
facebookTwitterskypewhatsapp
Income Tax Dept Carries Out Raids on Telangana CM's Close Associates' Construction Company
The I-T department raided Reddy's offices, residence and guest house in 15 locations in Hyderabad and also in the company's properties in Delhi and Mumbai.

Hyderabad: The Income Tax department carried out raids at multiple offices of Telugu tycoon Krishna Reddy’s Mega Engineering Infrastructure Limited (MEIL) in Hyderabad and other cities.

The MEIL is one of the major infrastructure service providers in Andhra Pradesh and Telangana. MEIL directors Reddy, who is popularly known as 'Megha', and Pamireddy Pichi Reddy, are close associates of Telangana Chief Minister K Chandrasekhar Rao.

The I-T department raided Reddy's offices, residence and guest house in 15 locations in Hyderabad and also in the company's properties in Delhi and Mumbai.

MEIL was awarded the contract for construction of Kaleswaram Project, one of the world's largest lift irrigation projects and a flagship programme of the Telangana government’s Mission Bhageeratha, which provides water to every household with 45,500-kilometer pipeline with estimation cost of Rs 40,000 crores.

The company also constructed Pattiseema irrigation project in record time in Andhra Pradesh.

Besides the Telugu states, MEIL has large power projects in Jharkhand, Maharashtra, Uttar Pradesh and Andhra Pradesh. MEIL has also built Khargone lift irrigation project in Madhya Pradesh.

Apart from Hyderabad, the company has offices in Delhi, Mumbai, Jaipur, Bhopal, Varanasi, Ahmedabad, Bhubaneswar and Bengaluru, and sources said that are underway at all the locations.

The Income Tax Department suspects malfunctioning in the accounts of MEIL.

Reacting to the I-T raids, MEIL issued an official press note saying, “The income tax department is inspecting our office today. It is a routine inspection. It may come to your notice as well. I would like to clarify that it is not a raid or search and just a routine inspection.”

The MEIL Group of Companies comprises a total of 12 companies, which works in the fields of power generation, transmission, irrigation, infrastructure development and transportation. The turnover of the company in 2017-18 was 20 thousand crores and the company is expanding in the area of railways, airports and ports.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Ahona Sengupta
Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results