The CBI has registered a case against GVK Group chairman GVK Reddy and his son Sanjay Reddy in a Rs 705 crore irregularity case. Apart from these, CBI has also filed a case against Mumbai International Airport Limited, Airport Authority of India as well as several officials of other companies in this case. All these people are accused of irregularities of Rs 705 crore and damage to the government exchequer between 2012 and 2018. The GVK Group, together with the Airport Authority of India and some foreign companies, formed the company under the name Mumbai International Airport Limited. GVK holds more than 50 percent shares in it.
According to the allegation, between 2012 and 2018, GVK Group invested MIAL’s surplus fund in its other companies. This amount was close to Rs 395 crores. Despite the company being in Mumbai, its surplus funds were kept in banks in Hyderabad. The CBI is investigating all these irregularities. The Central Bureau of Investigation (CBI) has filed an FIR against the GVK Group, Mumbai International Airport Chairman, Dr. GVK Reddy, Airport Authority of India officials, and others for irregularities of more than Rs 800 crore for the development of Mumbai Airport.
These are the allegations in the FIR
The FIR alleges that by contracting with nine other private companies, they have misappropriated Rs 310 crore. It has been said that real estate was developed in 200 acres of undeveloped land parcels around Mumbai Airport between 2017-18, the agency has questioned this. It is also alleged that the promoters of the GAKK Group of Companies worked with MIAL’s surplus amounts to benefit their other group companies between 2012 and 2018, with criminal intent to harm AAI.