Diamond house, dark secrets: Hyderabad tycoon PP Reddy, who buys electoral bonds worth ₹966 crore lives lavish life

Despite the cloud of controversy surrounding him, Reddy continues to lead a lavish lifestyle, epitomized by his opulent residence in Hyderabad, shaped like a diamond.

Author
Satyam Singh
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Courtesy: Instagram/ppreddyofficial

In a saga marked by controversy, Pamireddy Pitchi Reddy, the founder of Megha Engineering and Infrastructures Ltd (MEIL), has come under intense scrutiny for his alleged involvement in bribery and electoral finance irregularities. Despite hailing from modest origins in Andhra Pradesh's Krishna district, Reddy has amassed immense wealth, with a net worth of $2.3 billion, primarily through MEIL's operations. However, recent revelations cast a shadow over Reddy's success story.

Political connections of Pamireddy Pitchi Reddy

MEIL, under Reddy's stewardship, has navigated a web of political connections to secure lucrative contracts and ventures across India and abroad. However, the company's involvement in the electoral arena has raised eyebrows, particularly its purchase of electoral bonds totaling ₹966 crore, making it the second-largest buyer. This substantial financial influence in political affairs has prompted allegations of undue influence and corruption, tarnishing Reddy's reputation.

Lavish live amidst allegations

Despite the cloud of controversy surrounding him, Reddy continues to lead a lavish lifestyle, epitomized by his opulent residence in Hyderabad, shaped like a diamond. This ostentatious display of wealth stands in stark contrast to the allegations of bribery and financial impropriety surrounding him and his company. The luxurious trappings of Reddy's lifestyle, including his private golf course, serve as a reminder of the vast disparities in wealth and privilege that persist in Indian society.

Legal entanglements and public outcry

The allegations against Reddy and MEIL have prompted legal action, with the Central Bureau of Investigation (CBI) filing a bribery case against the company and several government officials. The accusations center on irregularities in bill payments related to the Jagdalpur integrated steel plant project in Chhattisgarh, further exacerbating public outrage and calls for accountability. As the investigation unfolds, Reddy's once-gilded reputation faces unprecedented scrutiny, underscoring the corrosive influence of money and power in India's political and business landscape.