GVK-led Mumbai International Airport under Ministry of Corporate Affairs’ scanner
The Mumbai International Airport Limited (MIAL), a GVK Group managed entity, has come under the Ministry of Corporate Affairs (MCA) scanner.
This comes at a time when the Hyderabad-based diversified GVK Power & Infrastructure Limited, which owns 50.5 per cent stake in the MIAL, is in the process of hiking its stake in the airport arm by acquiring 23.5 per cent additional stake from Bidvest and ACSA.
The MCA notice, according to sources, is based on a whistle blower complaint to MCA with regard to alleged ‘diversion of funds’ from some of the GVK Group companies.
