CBI books Megha Engineering officials, 2nd top electoral bonds donor in corruption case

• CBI registers a case against Megha Engineering Ltd and eight officers over alleged corruption in a ₹315 crore project
• Megha Engineering emerged as the second-largest buyer of electoral bonds, purchasing bonds worth ₹966 crore
• Reports suggest officials from NISP/NMDC and MECOn Ltd received bribes in exchange for project payments to Megha Engineering

The Central Bureau of Investigation (CBI) has initiated a case against Megha Engineering and Infrastructure Ltd, along with eight officers from NMDC Iron and Steel Plant and the Ministry of Steel, over alleged corruption in a ₹315 crore project for NISP. Recently revealed data showed that Megha Engineering and Infrastructure Limited emerged as the second-largest buyer of electoral bonds, purchasing bonds worth ₹966 crore. 

The case stems from a complaint alleging that officials from NISP/NMDC and MECOn Ltd received bribes in exchange for payment by MNDC to Megha Engineering and Industrial Limited.

Hyderabad-headquartered Megha came on the radar after it was found to be the second top donor in the electoral bonds scheme. Reports revealed that the company was awarded many projects immediately after it purchased electoral bonds. According to an analysis, Meghal bagged five major projects between 2019 and 2023 close to the time it purchased bonds.

Of its total electoral bond purchases of ₹966 crore, ₹584 crore went to the BJP. The BRS redeems ₹195 crore, DNK ₹85 crore. Others who redeemed MEIL's bonds included YSR Congress, Telugu Desam, Congress, Janta Dal (United), Janata Dal (Secular) and Jana Sena Party.