Whether MEIL back from Polavaram project contract?

IT department carried out raids on Megha Engineering and Infrastructures Limited – MEIL for day and night from past one week.

MEIL were prominent players in grabbing the government projects. From last five years, almost all the Government projects were carried out by MEIL. Some major projects like Kaleeshwaram, Pattiseema and so on. MEIL is one of the very close aides of Telangana CM KCR. MEIL recently grabbed the contract of Central government funded Polavaram project in the reverse tendering carried out by AP state government.

Within few days days after reverse tendering, IT raids were carried out on MEIL. IT department claimed this raids to be based on the allegations that MEIL always ended in losses with government projects. Infact, MEIL grabbed the contract of Polavaram for 12% lesser than the Government quote. Interestingly no other contractor came forward for Polavaram Reverse tendering. This is were Central government has got irked.

In the week long IT raids carried out at 31 locations related to MEIL, IT department officials have come out with several findings. IT department has said, 100’s of Crores valuable fake bills have been found. Liquid cash of Rs 17.4 Crores without proper accounting and 9 bags of gold without proof has also been seized. IT department is carrying out the investigation seriously.

This IT raid raises the question, whether MEIL will be eligible to gi forward with the Polavaram project contact.