CBI books GVK over Mumbai airport, says funds diverted for personal use
The CBI has booked GVK Airports Holdings and its Chairman G V K Reddy for allegedly causing a loss of Rs 705 crore to the Airports Authority of India (AAI) by siphoning off funds and using them for personal purposes and to fund own group companies.
GVK Airports Holdings is the operator of the Mumbai international airport through Mumbai International Airport Ltd (MIAL), a joint venture between the AAI and GVK.
The CBI on Thursday conducted searches at two locations, in Mumbai and Hyderabad, in connection with the case. Sources said, based on the CBI FIR, the Enforcement Directorate (ED) would soon register a case of money laundering against the promoters of the company.
