It was earlier reported that financial malpractice had taken place at the Chhatrapati Shivaji Maharaj International Airport in Mumbai. The case is currently being investigated by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
The CBI has filed a case of fraud, cheating, forgery, criminal conspiracy and misconduct under the Indian Penal Code (IPC) and its relevant sections against the infrastructure major GVK Group promoters and unknown Airport Authority of India (AAI) officials. According to the FIR, all of them were accused of embezzling more than ₹805 crores from the funds meant for the development of the airport, for their own benefit during the period of 2012-2018. Accordingly, the CBI has now focused its investigation on nine suspected contracts.
The Mumbai International Airport Limited (MIAL), was a joint venture formed by GVK Airport Holdings Limited, Airport Authority of India and a few other foreign entities. While the Chairman of GVK Group GV Krishna Reddy holds 50.5 per cent stake at the venture, the AAI owns 26 per cent. Chairman GVK Reddy and his son Sanjay Reddy, who is the managing director of GVK Group, are also named in the FIR. The FIR, filed by the investigating agency, alleges that the accused had defrauded ₹310 crores by entering into agreements with nine other private companies. Apart from that, the other real estate has also been developed on 200 acres of undeveloped land around the Mumbai Airport during the period of 2017-18.
Out of the nine people who were awarded the contract, the CBI has so far managed to record the statements of seven people. As per media reports, all of them were officers involved in the case. The CBI has also registered a case against MIAL. Surprised by accusations, the MIAL said in a statement to the media that they are a transparent and accountable company and are committed to assisting the agency in the investigation.
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