CBI registers a case against GVK Group for irregularities in development of Mumbai international airport
The Central Bureau of Investigation (CBI) has registered a case against GVK Group, a company that runs the Mumbai airport, its chairman Dr G V K Reddy, his son G V Sanjay Reddy and unknown public servants for alleged irregularities of over Rs 705 crore in the development of Mumbai international airport.
The CBI in its FIR said the promoters of GVK Group in Mumbai International Airport Ltd (MIAL) has “siphoned” funds by executing bogus work contracts, under reporting its revenues, inflating its expenses and misusing the reserves.
According to the FIR, MIAL allegedly entered into fake work contracts pertaining to real estate development to the tune of Rs 310 crore with nine firms in 2017-18 which were never executed. These firms, the CBI has alleged also claimed fake input tax credit from the government.
