MEGHA ENGINEERING
Megha Engineering emerges lowest bidder for Rs 12,800 cr nuclear power project
Megha Engineering & Infrastructures Ltd has been the lowest bidder for a Rs 12,800 crore engineering, procurement and construction (EPC) contract from the state-owned Nuclear Power Corporation of India. The company, which is the second-biggest buyer of electoral bonds and faces corruption allegations, submitted the lowest bid of Rs 12,799.92 crore.
NCLT allows fresh round of bidding for KSK Mahanadi
The National Company Law Tribunal (NCLT) has allowed KSK Mahanadi Power Company Ltd's committee of creditors (CoC) to invite fresh bids for the company. This decision comes after the tribunal dismissed Megha Engineering & Infrastructure Ltd's objection, stating that the first round of bidding had already attracted interest from 12 prospective resolution applicants. The resolution professional (RP) argued that the change in circumstance, with KSK Mahanadi undergoing corporate insolvency resolution process (CIRP) on a standalone basis, warranted fresh bidding. The second round of bidding has seen interest from entities like Coal India Ltd and NTPC Ltd.
Chinese companies may be permitted to dilute stakes in JVs with Indian partners
While decisions will continue to be made on a "case-by-case" basis with a focus on security concerns, sources suggest that this move could enable companies like Xiaomi and other prominent Chinese firms to expand their presence in India.
Big electoral bond buyer Megha Engineering to sell city gas business
Megha City Gas Distribution (MCGDPL), a wholly-owned subsidiary, has decided to consolidate operations and reached out to state-run Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Indraprastha Gas, among other players. It ventured into city gas distribution under the brand name Megha Gas in 2015 and continued to operate as MEIL till FY22.
Stupa Sports Analytics raises Rs 28 crore from Centre Court Capital, Peer Capital
Founded in 2020, Stupa Sports Analytics provides games federations and sports teams with analytics of player performance data, broadcasting capabilities and sports digitisation tools through its various platforms.
Himachal's hydro project leaked in test phase too, experts demand moratorium on new projects
A 25-megawatt Lambadug hydroelectric project in Himachal Pradesh has suffered leakage during its test phase, causing significant damage to property in Multhan village. The team found muddy water from the leaking penstock affected around 80 families and demanded a complete moratorium on new projects of 25 MW and above capacity. The project, executed by Megha Engineering Infrastructure Limited, is one of 40 projects in different stages of commissioning, construction, and planning on the Beas river and its tributaries.
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KSK Mahanadi to NCLT: Change of circumstances calls for fresh bidding
KSK Mahanadi Power Company, represented by its Resolution Professional's counsel, informed the NCLT, Hyderabad, on Monday, that new circumstances necessitate a reissuance of bids under the corporate insolvency resolution process (CIRP) for KSK Mahanadi Power, which entered insolvency proceedings in October 2019.
Megha Engineering and Infrastructure bags 2000MW Sharavathi pumped storage project
The Hyderabad-based MEIL won the bidding process and bagged the project. "It also saw L&T's stiff resistance as they moved Supreme Court over it but their plea was rejected and the contract awarded to MEIL", the company said.
Rs 315 cr corruption case: CBI books second-biggest electoral bond buyer Megha Engineering, 8 steel ministry officials
Hyderabad-based Megha Engineering & Infrastructures Ltd (MEIL) is one of the biggest electoral bond donors to BJP and BRS, and the second largest donor to Congress. P Pitchi Reddy and P V Krishna Reddy, the promoters of Megha Engineering that emerged as the second-largest donor of electoral bonds at Rs 1,232 crore, saw their wealth jump 53% and 51%, respectively.
Prashant Bhushan accuses Centre of favouring cos like Bharti Telecom, Megha Engg after they donated through electoral bonds
Senior Advocate Prashant Bhushan accused the central government of favoring companies like Bharti Telecom and Megha Engineering after they made donations to the party through electoral bonds. He alleged that these donations were made as quid pro quo arrangements for favors from the government.
Congress got cash from Nath: Govt sources on IT raids in 2019
In April 2019, Income-tax searches exposed cash receipts by Congress from Megha Engineering. Alleged corruption scam by Kamal Nath involving bribes. BJP criticized Congress. High court rejection prompted protests.
Electoral Bond: Future Gaming biggest donor to TMC, DMK, YSRCP
Megha Engineering and Infrastructures Limited was the top donor to BJP at Rs 584 crore and BRS at Rs 195 crore. The company also emerged as the second highest donor to three parties - DMK (Rs 85 crore), YSRCP (Rs 37 crore) and TDP (Rs 28 crore).
Reliance-linked Qwik Supply gave Rs 385 cr to BJP, Rs 25 cr to Shiv Sena
Qwik Supply, the third largest donor to political parities using electoral bonds, bought Rs 410 crore bonds between 2021-22 and 2023-24, and gave all but Rs 25 crore to the BJP. The amount of Rs 25 crore was given to the Shiv Sena in 2022. The company, which is described as a manufacturer of warehouses and storage units, gave no money any other political party, the data uploaded by the Election Commission showed.
Spicejet, Tech Mahindra among electoral bonds donors to AAP: EC data
Megha Engineering And Infrastructures Limited, Torrent Pharmaceuticals Limited, BG Shirke Construction Technology Pvt Ltd, Bajaj Auto Ltd, Tech Mahindra Ltd, Spicejet Limited, Derive Trading And Resorts Private Limit, Vardhman Textiles Ltd and V M Salgaocar Corporation Pvt Ltd were among the major companies that donated electoral bonds to the party.
Electoral Bonds: Lifting veil on Megha, Vedanta, Future Gaming and Reliance-linked co's donations to BJP, TMC, Congress & others
The State Bank of India (SBI) has released the complete electoral bond data as per the Supreme Court's directives. The dataset contains unique alphanumeric numbers linking bond purchasers to the political parties redeeming them.
Complete electoral bond data made public: Megha’s Rs 600 cr to BJP single biggest donation
Electoral Bond: This emerged from analysis of data provided by State Bank of India (SBI) on electoral bonds as directed by the Supreme Court. The information was passed on by the bank to the Election Commission of India (ECI), which posted the data on its website Thursday evening.
Megha Engineering electoral bond purchases close to bagging contracts for major projects
Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) has emerged as the second-biggest buyer of electoral bonds worth Rs 966 crore, according to data released by the Election Commission of India (ECI) on Thursday.
Megha Engineering, the company that spent over ₹1,200 crore on electoral bonds, began life as a small pipe-maker in Hyderabad
Between April 2019 and November 2023, Hyderabad-based Megha Engineering & Infrastructures Limited shelled out ₹1,232 crore — some of it directly and some through its associated companies. MEIL spent ₹966 crore, while its offshoots Western UP Power Transmission Co Ltd, SEPC Power, and Evey Trans Pvt Ltd spent ₹220 crore, ₹40 crore, and ₹6 crore, respectively.
Electoral bond data: Future Gaming and Megha Engineering top donors to political parties
The data release provides details of electoral bonds worth over Rs 12,000 crore. The information was provided by State Bank of India (SBI), the sole seller of the bonds, and published by the ECI.
Electoral bonds: A look at top buyers, other key numbers
Here’s a look at the top electoral bond buyers along with an examination of some of the other key numbers that have emerged from the initial data dump.
Electoral bonds: DMK's disclosure shows Future Gaming, Megha Engg as top donors
The latest information is based on disclosures of donors' names by a few political parties to the poll panel. Most beneficiaries of the electoral bonds scheme, including the BJP, All India Trinamool Congress, Congress, BRS and BJD, did not disclose the names of donors.
View: Lifting veil on corporate political donations via poll bonds throws troubling questions
Electoral bonds data revealed major donors' name, raising concerns about the relationship between money and politics ahead of the upcoming Lok Sabha elections. The disclosure of anonymous electoral bonds sheds light on hidden transactions and highlights the need for transparency in democratic processes.
Reliance-linked Qwik Supply third largest electoral bond buyer; Reliance says co not its subsidiary
Qwik Supply Chain Private Limited, reportedly linked Reliance Industries, emerged as the third-largest donor to political parties through electoral bonds, purchasing Rs 410 crore between 2021-22 and 2023-24. However, the Mukesh Ambani-led Reliance clarified that Qwik isn't its subsidiary. The company's activities and directors show various connections to Reliance-linked entities.
All about Hyderabad-based Megha Engineering, the second-largest donor to political parties via electoral bonds
Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL), initially focused on municipal pipe manufacturing, rose to prominence in infrastructure development. It became the second-largest political donor via electoral bonds, with contributions amounting to Rs 966 crore. The company's notable projects include the Zojila tunnel and diverse ventures nationwide.
Megha Engineering, Serum Institute, ArcelorMittal top list of corporates in political funding through trusts, says ADR Report
The BJP received Rs 259 crore or 70.69% of the total donations received by all political parties from electoral trusts. The BRS got Rs 90 crore or a fourth of the total donations received by all parties from all five electoral trusts. Other three political parties including YSR Congress, AAP and the Congress together got Rs 17.40 crore.
Silkyara tunnel project to continue after safety audit, repair of broken structure: Official
The Silkyara tunnel project in Uttarakhand, a part of the 900-km 'Char Dham Yatra All Weather Road,' will continue after a safety audit and repair of the collapsed structure, according to a senior road ministry official. The tunnel is a crucial element of the Rs 12,000-crore project aiming to provide all-weather connectivity to four holy towns in Uttarakhand.
MEIL secures Rs 5,400 cr crude oil refinery project in Mongolia
Megha Engineering and Infrastructures Ltd (MEIL) has secured a $648 million work order in Mongolia from Mongol Refinery State Owned LLC. The order is for the construction of a crude oil refinery plant, which will produce 1.5 million tonnes of crude oil annually to meet Mongolia's domestic demand for gasoline, diesel, aviation fuel, and LPG.
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