Telangana-Andhra firm bought bonds worth Rs 55 crore six months after I-T raids
Navayuga Engineering Company Limited built the disaster-struck Silkyara-Barkot tunnel in Uttarakhand.
Navayuga bought 25 bonds each worth Rs 1 crore on October 10, 2022.
The company has won government contracts all over the country, including a barrage construction in the Kaleshwaram lift irrigation project in Telangana and the Polavaram project. In September 2019, the Jagan Mohan Reddy government cancelled the Rs 3200 crore Polavaram contract work given to Navayuga. Navayuga is also building the Dhola-Sadia bridge across the Brahmaputra in Assam, which is said to be the longest river bridge in India. Prime Minister Narendra Modi had inaugurated the bridge in May 2017.
This report is part of a collaborative project involving three news organisations – Newslaundry, Scroll, The News Minute – and independent journalists.