Latest news with #MEIL
India.com
a day ago
- Business
- India.com
Meet woman who travels in private jets, owns luxurious home, Rolls Royce, her husband's net worth is Rs 18370 crore, she is..
The grand finale of Miss World 2025 is on May 31 in Telangana. Philanthropist and business leader Sudha Reddy opened the doors of her palatial private residence, Mon Amour Palais for 108 contestants and the pageant CEO Julia Morley. For the unversed, Sudha Reddy is the wife of Hyderabad businessman P.V. Krishna Reddy. The 'Beauty With A Purpose Gala', themed 'Midnight Pearls', was thoughtfully planned as a stylish tribute to Telangana's rich culture, warm hospitality, and strong commitment to global humanitarian work. All the beauties arrived dressed to impress, but Sudha's style and fashion stood out distinctly. P.V. Krishna Reddy is the managing director of privately held Megha Engineering and Infrastructure. According to Forbes, P.V. Krishna Reddy's real-time net worth is $2.2 B (approximately Rs 18,370 crore). He stood at 1688 position in the Forbes World's Billionaires List-The Richest in 2025. She hails from a charming town in Andhra Pradesh. As a Director at the Megha Group of Industries (MEIL), Reddy took charge of overseeing Megha Engineering and Infrastructure Limited's (MEIL) CSR initiatives. Entrepreneur Sudha Reddy married PV Krishna Reddy at 19. She is the founder of the Sudha Reddy Foundation. 'Sudha Reddy stands as an influential force at the core of India's corporate and philanthropic circles, with her strategic leadership and commitment to social causes making a lasting impact on the community,' reads the official page of the Sudha Reddy Foundation. All the contestants appeared in glamorous gowns and fashionable outfits; however, it was Sudha's elegant look in a black gown that drew the most attention and truly captured the spotlight. According to the reports, Sudha stole the show in a black, body-hugging gown featuring full sleeves with gloves and a front slit, adding a bold touch to her overall appearance. The silver embellishments brought just the right amount of drama, turning a simple gown into an elegant and classy statement. Black and silver always make a great combo, but the way Sudha styled it gave it a unique and classy feel. The 3D design looked like a headpiece, which made her neckline stand out. The silver detail then flowed to one side and was attached to the gown. On the back, only the headpiece-style design was visible, decorated with sequin stars in a neat pattern, adding lots of sparkle to her look. Sudha added a shiny silver touch to her gown, and she followed the same pattern with her accessories too. Whether it was the three-layer diamond necklace around her neck or her sparkling ring, everything stood out. She also carried a silver heart-shaped clutch, which made her overall gown look even more attractive and eye-catching. Sudha Reddy's Instagram reflects her affinity for luxury, showcasing designer clothing, fine jewelry, and an impressive collection of luxury handbags. Among her elite vehicles is a custom black-and-gold Rolls Royce Ghost, a special gift from her husband. A quick scroll through her account reveals her lavish possessions, including private jets, a wardrobe full of international designer labels, exquisite jewelry and diamonds, luxury handbags, and much more.
The Wire
3 days ago
- Business
- The Wire
What do the SC's Stern Words to the MMRDA on Tendering Have to Do With Electoral Bonds?
New Delhi: The Supreme Court has issued a stern directive to the Mumbai Metropolitan Region Development Authority (MMRDA), suggesting it re-tender two major infrastructure projects collectively worth approximately Rs 14,000 crore, or face a stay on the current process. The warning on May 26 came during a hearing on appeals by Larsen & Toubro (L&T) Ltd, which contested its technical disqualification from the bidding for the Mumbai Elevated Road Project and the Road Tunnel Project, where Hyderabad-based Megha Engineering & Infrastructure Ltd (MEIL) emerged as the lowest (L1) bidder. Chief Justice of India B.R. Gavai, presiding over a two-judge bench also comprising Justice A.G. Masih, expressed surprise at L&T's exclusion. 'The very name of the bidder, it's difficult to believe, he has been chosen to construct the Central Vista by the Central government,' CJI Gavai remarked, highlighting L&T's established credentials. He instructed Solicitor General Tushar Mehta and Senior Advocate Mukul Rohatgi, representing MMRDA, to 'take instructions on whether you are willing to re-tender. Otherwise we will stay.' L&T has challenged two Bombay high court orders from May 20, which upheld MMRDA's decision not to communicate the reasons for technical disqualification before awarding the projects. L&T argued this was an arbitrary and non-transparent process, leading to MEIL being declared L1 at a substantially higher cost. L&T claimed its bid was approximately Rs 2,521 crore lower for the Road Tunnel Project (estimated at Rs 8,000 crore) and Rs 609 crore lower for the Elevated Road Project (estimated at Rs 6,000 crore) compared to MEIL. During the hearing, CJI Gavai emphasised the public interest involved. When Rohatgi argued that 'question of money doesn't arise if you are disqualified,' the CJI countered, 'question of money also arises if it's a public interest matter…you better take instructions. The public money would be saved.' He further stressed, 'We are in an era of transparency…if it's arbitrary, the person should have an opportunity to challenge.' MMRDA's counsel maintained there were 'good reasons' for L&T's disqualification and that tender clauses allowed for reasons to be shared post-award to prevent delays from 'unnecessary challenges.' Rohatgi added, 'We will show the reasons for disqualification.' Senior Advocate A.M. Singhvi, appearing for L&T, highlighted the significant cost difference and hinted at the profiles of other bidders, stating, 'Names of the other two left are more important than my name…Their names are very interesting.' The controversy is amplified by the profile of MEIL. The Hyderabad-based firm, valued at Rs 67,500 crore, has been a prominent purchaser of electoral bonds. Data released by the Election Commission of India revealed MEIL bought bonds worth Rs 966 crore, with around 60% (approximately Rs 584 crore) going to the Bharatiya Janata Party (BJP). The Megha group's total donations via electoral bonds, including through associated companies like Western UP Power Transmission Company Limited, SEPC Power, and Evey Trans Private Limited, amount to Rs 1,232 crore, making it one of the largest political donors in the country. This extensive political funding, particularly to the party leading the Union government and in Maharashtra (where MMRDA operates), has cast a shadow on the tender process. MEIL, founded by Pamireddy Pitchi Reddy in 1989 and now run by his nephew P.V. Krishna Reddy, has executed major projects, including the $14 billion Kaleshwaram Lift Irrigation Project in Telangana, which itself faced scrutiny from the Comptroller and Auditor General (CAG) for alleged irregularities. The company also secured the Zojila Tunnel project. The Mumbai Elevated Road Project involves a 9.80 km bridge along Vasai Creek, while the Road Tunnel Project is for a 5-km twin tunnel system on Thane Ghodbunder Road. Both are extensions of the Mumbai Coastal Road project. The Supreme Court has scheduled the next hearing for May 29, where MMRDA is expected to respond to the court's suggestion for a re-tender.
The Hindu
16-05-2025
- Business
- The Hindu
Italian construction equipment manufacturer booked for duping MIEL of ₹13 crore with defective equipment
An Italian construction equipment manufacturer was booked by the Cyberabad Economic Offences Wing (EOW) for allegedly supplying defective machinery to Hyderabad-based Megha Engineering Infrastructure Limited (MEIL). The case was initially booked by the Balanagar police in March, however, as the value of the fraud is an estimated ₹13 crore, the case was transferred to the EOW for further investigation. According to the police, MEIL placed an order with Soilmec for the tunnel rings required for the construction of a railway line in Uttarakhand. When the machinery was found defective, MEIL tried to contact Soilmec representatives, but did not receive any response. The company then lodged a complaint alleging that Soilmec had collected over ₹13 crore and supplied defective machinery, causing losses to them. Further investigation is under way.
Time of India
15-05-2025
- Business
- Time of India
MEIL accuses Italian co of Rs 13cr fraud
Hyderabad: Cyberabad Police's Economic Offences Wing (EOW) registered a case against Italian company Soilmec and its representatives for allegedly defrauding Hyderabad-based infra major, Megha Engineering and Infrastructures Limited (MEIL), of Rs 13.5 crore in a tunnel drilling equipment deal. MEIL lodged the complaint with EOW on May 12. MEIL representative T Ashok Reddy alleged that Soilmec and its Indian subsidiary supplied defective tunnelling rigs in 2022-23, intended for use on the Rishikesh-Karnaprayag railway project in Uttarakhand. Soilmec is a construction equipment manufacturer based in Italy's Cesena city. Police said MEIL placed an order in 2021-22 with Soilmec for ST-20 and ST-60 rigs, worth €1,582,000, based on assurances that the equipment would be suitable for the Rishikesh-Karnaprayag new broad gauge rail line. "Despite receiving full payment, Soilmec has failed to deliver functional equipment within the agreed seven-eight month timeframe. The supplied machinery was defective and unfit for the intended use. The accused conspired from the outset, misleading MEIL into placing the order and collecting full payment for substandard equipment," Ashok Reddy alleged, claiming that Italian technicians sent to commission the equipment abandoned the site without completing their work. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo Based on MEIL's complaint, EOW registered a case under IPC Sections 406 (criminal breach of trust) and 420 (cheating), read with section 34 (common intention), against Soilmec representatives David Panzavolta, Nikunj Parekh, Renuka Satish, Sanjoy Chakraborthy, Stefano Cordella, and Paolo Melandri. "The case was initially registered at Balanagar police station on March 13, 2025, and was recently transferred to us. We are currently gathering evidence," said an EOW official.
Time of India
12-05-2025
- Time of India
Worker killed as hillock caves in during NH66 widening
Kasaragod: An 18-year-old guest worker died and two were injured when a portion of a hillock collapsed during the construction work of retaining wall for the national highway at Cheruvathur on Monday. The deceased has been identified as Mumtaj Mir, while the injured persons are Mohan Thejar, 18, and Munlal Laskar, 55. All of them are West Bengal construction is part of the six-laning of NH66 and the work is being carried out by Hyderabad-based Megha Engineering and Infrastructures Ltd (MEIL).According to the company officials, the accident happened around 10am when the workers were fixing shuttering plates to construct the retaining wall. Around 20 workers were present at the site when the incident happened. Mohan and Munlal were buried only from their waist down and they were rescued quickly. They suffered leg fractures. But, Mumtaj was totally buried, the officials took around 30 minutes to pull him out. Though he was rushed to a nearby hospital, his life could not be saved. His body was later shifted to the Govt Medical College, Pariyaram, for autopsy. Chandera police have registered a case and launched a district collector Inbasekar K visited the site. He instructed MEIL to suspend the construction works of the service road and retaining wall until further orders. The state disaster management authority has been asked to submit a report on the incident, the collector collector also directed officials to relocate the high-tension power line running above the hillock due to the risk of collapse.
