A look inside Fakeer's Jhola: Part 4
Megha Electoral Bonds story: Completion of the Chronicle
On 14th of November, 2022, MEIL (Megha Engineering and infrastructure Limited) gave 10 crore to ruling YSR Congress of Andhra Pradesh. They build or refurbish oil rigs there, Megha gas has lots of City Distribution Grids there.. so it's not extraordinary.
What happened on 12th December, 2022 was indeed extraordinary, cool 56 crore went inside Fakeer's jhola. MEIL bought 56 Electoral Bond of One Crore denomination and BJP encashed every single one .. Nope, they didn't misplace a single certificate in Auto-rickshaw this time.
Its all there on page numbers 355-356 .
Returns came at Bullet Speed, as MEIL-HCC JV got Bandra-Kurla Bullet Train Station contract, on 28th December, 2022 just 12 days after BJP encashed those bonds.
"Megha Engineering & Infrastructures Ltd. – Hindustan Construction Company JV today emerged as the lowest bidder to construct Bandra Kurla Complex Station of the 508.17 km Mumbai – Ahmedabad High Speed Rail (MAHSR Bullet Train).
This terminus station of the 1.03 km long Package C1 will be built using the cut and cover method between chainage -0.255 to 0.775. The 467m long station area within it will have 6 platforms of 425m length to accommodate 16 coach bullet trains.
India’s National High Speed Rail Corporation Ltd. (NHSRCL) had had re-invited bids for BKC Station’s civil construction in July 2022 with an unknown estimate and 1638 day (4.48 year) completion timeframe. Technical bids were opened in November to reveal 4 bidders."
I quote directly from this report
Just look for "MAHSR-C-1" tender, in tender award page of National High Speed Rail Corporation Ltd's website:
Immediately after winning the BKC bullet train contract, they reinvested in Electoral Bonds. On 27th January , MEIL bought 40 more Electoral Bonds and 32 of them were encashed by BJP, 8 by their "back into NDA" ally, TDP.
Returns came like Sweet Summer Wine, NHAI awarded them 5 packages for Greenfield Section of Vijaywada-Bengaluru Expressway on 28th February
One wonders, apart from Political donations in the form of Electoral Bonds, how much "Fakeerly cash" went inside the jhola. For the tender award Windfall didn't stop there..
On 16th march, MEIL won 112 km Mancherial – Warangal Expressway in Telangana from NHAI.
on April 2, we get another news of another contract win for MEIL.
MEIL Bagged Khamman-Vijaywada project work, which is part of Nagpur-Vijaywada Expressway, tender given by NHAI.
Meanwhile other Central Government organisations are not to be left behind, TnDIndia reports this:
"Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) approved the sale of transfer of the project special purpose vehicle “KPS1 Transmission Ltd” to the successful bidder, on March 30, 2023."
They also say, "Third TBCB project for MEIL
According to information available with T&D India, “KPS1 Transmission Ltd” is the second interstate transmission that Megha Engineering & Infrastructures would be developing. MEIL is already developing an interstate transmission scheme housed under “Khandukhal Rampura Transmission Ltd.” The Hyderabad-based MEIL is also developing an intrastate scheme under the project SPV “MP Power Transmission Package-I Ltd”. "
WHEN ELECTORAL BONDS BROUGHT BIG BUSINESS, WHY STOP THE GOOD BUSINESS? MEIL BUYS 140 CRORE MORE ON 11th April, 2023.
Amazing fact is, MEIL knows whom to thank for these orders, 115 of 140 crore went to Mr. Fakeer .. oops, I mean BJP.
Remaining 25 crore they give to other parties who may oppose or support land acquisitions locally. For Karnataka: JDS got 5 crore, Congress got 8 crore; For Andhra & Telangana: NDA allies TDP got 10 crore and JanaSena got 2 crore. Interesting part is that, BRS got nothing.. Perhaps they sniffed a change coming in Telangana politics later that year. As a betting man, MEIL proving to be too astute to their own good.
They however gave 50 crore to ruling BRS of Telangana and 25 crore to ruling YSR Congress of Andhra Pradesh later through a massive 75 crore Electoral Bond purchases of 12th July, 2023.
But BJP takes away the cake with 115 crore. After all, it was BJP who were doling out Highway, Power Transmission, Railway contracts to MEIL.
Then came Thane-Borivali Twin Tunnel Ghotala aka Scam, not me L&T alleged that at Mumbai High Court.
The tunnel work was tendered out in two parts or packages, let me show you what happened, there were two bidders, L&T and MEIL. For Package 1, L & T was disqualified leaving MEIL win as only bid .. For Package 2, L&T was the lowest bidder.
MEIL definitely wasn't lowest bid for Package 2. But what happened? MEIL was awarded both packages.
L&T sued MMRDA but High Court dismissed the case. The screenshot and story came from https://themetrorailguy.com/2023/04/25/lt-meil-win-thane-borivali-tunnel-projects-work-in-mumbai/
BTW who has been doling out environmental clearances for such projects? What is his cut from daylight robbery of Electoral Bonds Money?
Let's take a detour overseas: Let's go to Mongolia..
A news report from November 2022 says, "India’s MEIL to build first greenfield oil refinery in Mongolia"
Really, who is Financing this deal? Who else but Indian taxpayers.. This is an Government-to-Government initiative, to build a oil refinery in the middle of south Gobi desert. (There were times when I used to jokingly refer to PM Fakeer as Gobi-ji, but that has nothing to do with it) This $790 million project was to be financed through a line of credit from Government of India.
Ha ha ha.. Such close ties of BJP ruled Government that they are financing Overseas projects, even in Gobi Desert for Megha Engineering. They didn't build a single Refinery in India, but Government of India took them as part of Indian Delegation and got them this deal to build a refinery.
This would not be only time Modi Government got Government-to-Government negotiated deal for Megha Engineering ... This Hindu business, report states MEIL has got a 3rd project in Mongolia, another oil refinery building project.
This is classic Vendetta against Mughals.. an ethnic group whom BJP curses everyday inside India. Mughals historically had claimed that they are originally from Genghis Khan's Horde from Mongolia; So BJP has given false promises of Infrastructure building in Mongolia.. Take that, Genghis, Taimur, Babur & Sons.
The Hindu report states and I quote, "MEIL’s first venture in Mongolia involves construction of the country’s first greenfield Mongol oil refinery project, as part of it overseeing the construction of EPC-2, which encompasses facilities valued at $598.90 million. MEIL is also constructing captive power plants for the EPC-3 phase valued at $189.72 million. The value of the three projects is $1.436 billion."
Strange part is that, The Greenfield Oil Refinery project which was stated to be $790 million in 2022 by both MEIL and Governments of India and Mongolia.. is now valued at $598.90 million. No, there were no mammoth for-ex market upheaval in between. So what accounts for the fluctuations? Scam? .. who cares what its worth, when nobody is going to build anything.. is that it?
Few things are important to note here:
Mongolia is a key ally of China and Russia and China is the Top FDI giver to Mongolia. Although Mongolia does not call itself a communist state anymore, but they are pretty much one party state.. only thing that changed is that ruling party dropped the word "Revolutionary" from "Mongolian Revolutionary People's Party".
They still write in Russian script and Russian language. 95% of Gasoline and Diesel comes from Russia from those mega Siberian refineries. The distribution of fuel are done by various Russian companies.
Still Mongolia is a Coal dependent country, Their Electricity comes from Coal-fired thermal power, their heating is also coal dependent. (So says the Nautilus Institute report on Energy sector in Mongolia).
If these is a fake infrastructure scam, it is a BJP ruled Government of India run scam, and This real line of credit from Exim Bank for fake infrastructure is nothing but Money-laundering scheme for BJP cronies. Putin is also rumoured to have used Mongolia for its money-laundering activities of his cronies, even Lukashenko of Belarus did the same, the EUReporter had reported that.
29th March, 2024, The Diplomat reported that Ex-Mongolian PM ( from same ruling single party) has been accused of corruption and money laundering schemes by US justice department..
Why Modi Government risks money of EximBank and sometimes SBI to provide seemingly endless "Line of Credit" to cronies for doing Mining and Infrastructure projects in Mongolia?
Back in India, CGD tenders were being handed out by PNGRB and Cronies were winning big time.
In January 2022, MEIL won 12 Area Contracts for City Grid of Gas Distribution
Winner takes home the right to tap from PNGRB controlled nation-wide natural gas grids and build local area gas pipeline networks, which are Officially called Sub-Transmission Pipelines (STPL); from where they can retail CNG and PNG. In part 2 of this Megha untold stories, I had introduced you to Megha Gas and also shared its footprint map which I got from their website.
These imprints do look nice on paper, but they are results PNGRB's generosity and I'm sure Adani Gas has an equally impressive footprint map. So I looked deep into their website. PNGRB calls each block of distribution zone as an "Geographical Area (GA)" and MEIL subsidiary Megha Gas do provide a GA wide Pumping Station and Gas Subscribers data.
Similarly, PNGRB has in their website gives a Report where they talk about Operational and under-construction pipelines . In their recent report they mention only 7 STPLs are operating as of 31st December, 2023.
Let me share the screenshots, so you would know about them.
So you see that the area isn't as wide as it seems from website. 2 years after the award, STPLs are not completed.. isn't this PNGRB's fault of putting too many eggs in 1 basket or do everybody need to help Adani (ATGL) build his Pipelines first.
If one great thing has to be said about Megha group is that their websites are really open about their work and details can be found if looked seriously. If Megha Gas has only 3 pumps in a GA, they say that too, unlike their competitors in that field.
Electoral Bond purchases of October 2023- January 2024: The Final Flourish
Did I not say, on betting on Elections, Megha Group is quite successful, they had smelled Congress is coming back in Telangana..
On 6th October, They bought 40 One Crore denominationed Electoral Bonds under a different subsidiary "Western UP Power Transmission Company Limited " (WUPPTCL) registered in Ghaziabad, but the issued by branch code given by SBI is still the same "847" and teller no is same as before.. so very much from Hyderabad and gave it Congress party (the eventual winner of Telangana Election).
On 7th October, They bought 50 crores worth of Electoral Bonds from WUPPTCL account and gave it Congress party.
BJP got their share of usual 50 crore Electoral Bond Bribes from "MEGHA ENGINEERING AND INFRASTRUCTURE LIMITED" on 11th October.
"See boss, MEIL only gives Bonds to BJP.. we don't know who these Western UP.. what not company is", they assured BJP thugs ..😉 😂
But BJP wanted more from MEIL and on 12th October, MEIL bought 100 crore worth Bonds for BJP and local TDP got 10 crore.
On 13th November, 2023 .. MEIL subsidiary WUPPTCL bought 60 Electoral Bonds of 1 crore, but there were too many bond envelopes in the office and BJP got this bunch and encashed on 17th November.. not Congress!
On 17th November, two MEIL subsidiaries "WUPPTCL" and Chennai based "SEPC Power Pvt Ltd" bought 20 Electoral Bonds each, from same Hyderabad branch and same teller of SBI, all of them are of Rs. 1 crore in denomination. And this bunch went to Congress party, all 40 crore.
On 18th November, "SEPC power" bought 10 more Electoral Bonds and these two were encashed by Congress. (Please don't tell Vomit Shah 🤫 or they would not be able to Morning walk anymore🤪)
(Alas word has reached to Mr. Shah) On 20th November "SEPC Power" had to buy 10 crores of Electoral Bonds and 5 crore were snatched by BJP and their returned ally in NDA, TDP each..
Moreover the other subsidiary, "WUPPTCL" had to buy 20, 1 crore Rupees Electoral Bonds and gave them to BJP.
You can check issuing branch code, all of them are "847" and same issuing teller number too.
Now you know why SBI was giving these codes in Bond Purchaser data.. Vomit Shah demanded that, for his special MIS report preparation.
If you are wondering why I'm suddenly writing in such funny way, that's because I've finished Megha Engineering Bonds and Jhola-man's receipts and there is just one days data left for the group.
This year, yes Sire, on 11th January, 2024, WUPPTCL bought 30 Electoral Bonds worth 1 crore each and this time all of them went to NDA allies, TDP (20 crore) and JanaSena (10 crore).
Take that Chaucer, You could not finish Canterbury Tales (those who read it completely, only they know that) but I have covered entire MEIL group's Electoral Bond purchases. Hurrah! Hurrah!
But I'm sure I missed dozens of Tendering stories that happened in these companies in these years. India has world's largest population, I'm sure whatever I've missed somebody else will find it and write about it.
I'll be back with more Infrastructure companies large Bond purchases and their coincidental windfall gains via contracts or loan restructuring or fresh loans or waivers or legal case withdrawals by Government.
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