Latest news with #Soilmec
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.
