CBI case filed against 2nd-largest buyer of Electoral Bonds in Megha Engineering and Infrastructure Ltd for alleged bribery

Megha Engineering has recently come under scrutiny as the second-largest purchaser of electoral bonds. According to officials, eight individuals from NISP, NMDC, and two from MECON were named in a First Information Report (FIR) for allegedly accepting bribes worth approximately Rs 78 lakh in the clearance of bills amounting to Rs 174 crore for Megha Engineering’s work concerning the Jagdalpur integrated steel plant.

The company’s significant contributions to political parties have also raised attention, as it donated a substantial sum of Rs 586 crore to the BJP, making it the highest donor based on data released by the Election Commission on March 21. Additionally, donations of Rs 195 crore, Rs 85 crore, and Rs 37 crore were made to BRS, DMK, and YSRCP respectively.

Smaller sums were also contributed to TDP, Congress, JD-S, Jana Sena Party, and JD-U. The developments leading to the FIR became public knowledge on Saturday, with the CBI initiating a preliminary inquiry on August 10, 2023, regarding alleged bribery in a Rs 315 crore project related to works at the integrated steel plant Jagdalpur, which was awarded to Megha Engineering.

Subsequently, a regular case was registered on March 31, following a recommendation based on the initial findings. The FIR lists the names of several officials from NISP and NMDC Ltd, as well as MECON Ltd, who are alleged to have received bribes.

Specifically, it mentions transactions between NMDC Ltd and MEIL, naming individuals such as Subhash Chandra Sangras, general manager at MEIL, and Megha Engineering, as well as others involved. It is noteworthy that the above story has not been edited by NDTV staff and is published from a syndicated feed, with the exception of the headline.