Money laundering case against GVK Group: ED searches premises of promoters in Mumbai, Hyderabad
The Enforcement Directorate (ED) on Tuesday conducted searches at the offices of GVK Group and the residences of its promoters in Mumbai and Hyderabad, in connection with a money laundering case for alleged irregularities in the development of Mumbai international airport.
On July 7, the ED had registered a complaint under Section 3 of the Prevention of Money Laundering Act (PMLA) against the GVK Group and it’s chairman GVK Reddy, his son GV Sanjay Reddy and a few others, based on an FIR filed by CBI against them on June 27.
The Central Bureau of Investigation (CBI) has alleged irregularities of over Rs 705 crore in the development of Mumbai international airport.
