GVK group chairman GVK Reddy and his business associates allegedly siphoned off funds belonging to Mumbai International Airport Ltd
The Enforcement Directorate (ED) is set to charge advertisers of the GVK Group of organizations for supposed illegal tax avoidance, sources disclosed to Business Standard after the Central Bureau of Investigation (CBI) blamed them for supposed inconsistencies to the tune of Rs 705 crore in running the Mumbai air terminal.
Mumbai International Airport Ltd (MIAL) is a joint endeavor between GVK, state-run Airport Authority of India (AAI) and remote substances. AAI went into a concurrence with the two others for upgradation and upkeep of the Mumbai air terminal.
“We are looking at the CBI case and will book the blamed under the Prevention for Money Laundering Act (PMLA) for affirmed guiding of assets through incomplete agreements and redirecting the overflow assets of the MIAL for meeting individual costs, said a senior ED official.
The CBI on June 27 enrolled an argument against GVK bunch director GVK Reddy, MIAL and AAI authorities for cheating and criminal intrigue that supposedly made misfortune the tune of about Rs 1,000 crore to the administration, said sources.
Aditi Mehta 