It is a fact that Income Tax department had conducted “searches” in the offices of infrastructure giant Megha Engineering and Infrastructure Limited (MEIL) for two days.
While nothing much was reported in the media, except that the IT department officials from Delhi had conducted searches, a lot of speculative stories are going on in the social media.
The company officials, however, dismissed them as fake news and clarified that the IT officials had only conducted some inspection of records with regard to advance tax payments.
Nobody knows exactly what the truth is and how serious these Income Tax “raids” on MEIL are. Sources, however, say there is definitely more to these IT inspections on Megha than what meets the eye.
According to these sources, though Megha has been doing various projects in different states across the country, the Income Tax inspections were done only in Hyderabad.
“Apparently, they have come with some concrete information about alleged irregularities in Kaleshwaram and Mission Bhagiratha projects of the Telangana government. They are learnt to have seized some documents pertaining to the over-invoicing of some works,” a source said.
It is learnt the Bharatiya Janata Party leadership has suspected that the Telangana Rashtra Samithi could win the last elections with the alleged ill-gotten money from Kaleshwaram project.
Since the BJP is aiming at capturing power in the next assembly elections, it wants to tighten the noose around TRS leadership with IT raids and if necessary, it might even rope in Central Bureau of Investigation investigated into the alleged irregularities, sources said.