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Mumbai airport scam: AAI to seek clarity from GVK Group

Forum Gandhi Mumbai | Updated on July 07, 2020 Published on July 07, 2020

CBI had lodged an FIR against GVK Group Chairman, his son and eight others, for allegedly siphoning off funds to the tune of ₹705 crore

The Airports Authority of India (AAI) will seek clarity from GVK Group on the alleged siphoning off funds as stated by the Central Bureau of Investigation (CBI). The CBI had last week lodged an FIR against GVK GroupChairman, his son and eight others, for allegedly siphoning off funds to the tune of ₹705 crore.

“We are in the midst of writing a detailed letter to GVK and MIAL (Mumbai International Airport Ltd) on the said issue. We will ask for a detailed report on the same from them,” a senior official at AAI told BusinessLine, requesting anonymity.

Under a public-private partnership (PPP) programme, GVK, its foreign entities and AAI had entered into a joint venture and named it MIAL. The agreement was signed in 2006 for the modernisation, upgradation, operation and maintenance of the Mumbai airport.

In its FIR registered on June 27, the CBI has alleged that GVK Group allotted bogus contracts, under-reported revenues, misused reserves meant for the development of the Mumbai airport for the holding company, allowed premium retail spaces to family and relatives at lower rates, and booked exuberantly expensive air and train travel for employees and family of those close to GVK Holding, among others.

The CBI had also conducted searches at the Mumbai and Hyderabad offices of GVK Group.

Also read: https://www.thehindubusinessline.com/companies/the-case-against-gvk-and-its-promoters-exclusive-details-from-the-cbi-fir/article31969283.ece

Also read: https://www.thehindubusinessline.com/news/surprised-by-the-fir-registered-by-cbi-mial/article31973162.ece

Also Read: https://www.thehindubusinessline.com/companies/cbi-conducts-searches-at-gvk-group-premises-in-mumbai-and-hyderabad/article31970054.ece

CBI conducts searches at GVK Group premises in Mumbai and Hyderabad - The Hindu BusinessLine

The Central Bureau of Investigation (CBI) is conducting searches at the Mumbai and Hyderabad offices of GVK Group, according to top CBI officials.“Two teams are conducting searches at the moment ...

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Published on July 07, 2020
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