GVK Airport Business Exit

State Bank of India (SBI), Axis Bank and Canara Bank, along with a few others, have red-flagged GVK group-promoted Mumbai International Airport (MIAL) as a fraud account. They have appointed Deloitte to conduct a forensic audit of MIAL.

The CBI in July 2020 had charged the GVK group promoters with siphoning off Rs 705 crore. The agency had accused them of causing a loss of Rs 310 crore to the exchequer by entering into fake work contracts.

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