Drillmec Spa, this name was unknown to anyone until yesterday. Now because of KTR and Megha Krishnareddy, the people of Telangana became aware of this name and details. It is an Italian company, acquired by Megha. Legally, the company will stay and operate in Hyderabad. The agreements were signed by Minister KTR. The IT minister proudly says that an Italian company has come to the city with an investment of Rs 15 billion. But there is a rumor going around that there is a lot of hustle and bustle going on here. People assume that Megha Krishnareddy’s sister company McSpa has chosen Hyderabad to turn black money into white.
The Tolivelugu team has investigated the dealings of this so-called great company. What happened to Drillmec Spa’s parent company, the Trevi Group? What kind of financial transactions has taken place with Megha? We discovered that the company, which has not supplied a single drill from 2015 to 2018, has given 27 drills to Megha Management in 2018 without any experience. Also, they suspiciously won the ONGC tenders with the lowest bid? Tolivelugu brings all these things before you.
The Origin of Drillmec Spa
The Italian Drillmec Spa company has a history of hundreds of years. But it changed a lot many hands. Reached the Trevi Group, which has been in the market for 60 years. Not active in drilling and rig tenders for a few years. As of today, the market value of a single share is only 0.79 Euros.
But in 2018 ONGC called for tenders for 27 rigs. The company was acquired by Megha company after acquiring Drillmec Spa from the Trevi Group. The shareholders were not told of any financial transactions. These things came out when Trevi became a public limited company. Megha company diverted money with O Shell Company and acquired the Drill McSpa brand. International companies are whispering that about Rs 2,000 crore of black money has changed hands here. The company, which once employed 400 people, did not even have 100 people at the time of Megha’s arrival. In addition to that, there is information in the market stating that drilling and rigs have not been supplied to any country since 2014. There is criticism that such a company was set up by Megha just to turn the Black money to White.
Was the ONGC bidding a gateway to turn Black money into white?
ONGC has announced tenders for 27 rigs to extract oil from the ground. Megha Company, which has been looking to enter the field ever since has come up with a plan. This was a perfect opportunity for Megha to hit two birds with one stone. The top 15 companies in the world participated in these tenders. But Megha, inexperienced management, bid Rs 4,107 crore with Kakinada Marine Offshore Complex Limited Drillmec Spa and won the tender. Then the turnover of this company was only 24 crores. There was also talk of giving so many rigs to one company at once. There are many reasons to agree to all the terms and conditions of Time. BHEL, one of India’s Navaratna, bid on less than Rs 1,800 crore without expecting huge profits.
There are suspicions that there are thousands of crores behind this deal. The turnover and reputation of the companies involved in the bidding are much better. BHEL-NOV annual turnover is 46 thousand crores. Another international company has a turnover of Rs 30 lakh crore. The same Kakinada Marion Offshore Complex Ltd. was re-recalled for a bank guarantee of Rs 4 crore in 2014 for failing to provide guarantees of operation. Criticisms have come from petrol extraction companies around the world over the handing over of work to the cloud with a single line that they are working for less than a thousand crores in the auction. There are allegations that tenders were awarded to such companies just like Megha Krishnareddy lobbying. It is clear from the background of the directors of the Italian companies that thousands of crores of black money have turned into white money in the transformation of the company into an Indian company. There are many stories behind the acquisition of a company with a history of hundreds of years.
Are these great deals for the land in Hyderabad? or for the Uranium?
There is no need for rigs in the original Telangana. But .. Minister KTR said that it was great that the Italian company came to Hyderabad in appreciation of their rule. Nowhere does it say that it is the Megha Krishnareddy Company that they consider to be their pocket company. Promoted as an international company, there is a lot of propaganda going on in Hyderabad that all this is to grab valuable land. However, oil drilling, rigging sector equipment is coming to Telangana as needed. There are natural gas reserves along the Godavari coast. ONGC has already conducted surveys in the catchment area. Singareni has always been trying to extract gas like methane from underground mines. However, the Megha company will set up an offshore offshore system in Telangana rather than at sea.
If the same is made in large quantities .. it will be very useful for the extraction of uranium in the Black Sea. If so .. Ecologists are expressing concern that the state is in danger forever. The center is already drilling boreholes in the Black Forest. The movement to stop them also blew up. Meanwhile, KCR in the assembly assured that there are no thoughts of extracting Uranium from the ground. But analysts have ambiguous thoughts about KCR’s true intentions.