IT raids done for 6 days on MEIL and its related 30 premises. Without mentioned the name of the MEIL, Income Tax Department has released on IT raids. On first day, MEIL mentioned in statement that IT raids are official in our business.
We never seen 6 days continuous raids on one construction company in past. The name and fame of MEIL has increased since 6 years in Two Telugu States. Completion of Pattiseema within short period MEIL got recognition in irrigation and power sectors. Followed by Kaleswaram which is giant project in Telangana is taken by MEIL. Now, the construction company involved in Transport business and Two Telugu Governments are busy in giving the Electric Bus Contract to MEIL. Union Government has announced 1 crore subsidy for each Electric bus to promote eco-friendly transport system.
Ravi Prakash complaint on MyHome and MEIL to ED and IT and Mojo, Ex-CEO Revathi complaint to narendra modi on MyHome and MEIL are assumed to the reason for IT raids. There is political angle in these raids. Reportedly, Union Government doesn’t have much interest to get Polavaram contract to MEIL in AP Govt’s reverse tendering. As per buzz, BJP top leaders believe that MEIL was gave huge amounts of money to YS jagan and kcr before the general elections. Though IT didn’t mention the name of the company in its statement, people came to know and assume easily.
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