This picture has been used for representation purpose
The CBI has registered a case against Gunupati Venkata Krishna Reddy, the Chairman of the GVK Group of Companies and his son G.V. Sanjay Reddy, Managing Director of Mumbai International Airport Ltd. among others for alleged irregularities to the tune of Rs 705 crore in running of the airport, officials said. According to the Central Bureau of Investigation (CBI), the Airport Authority of India (AAI) had formed a joint venture with the GVK Airports Holdings Limited, promoted by the GVK group under public private partnership firm Mumbai International Airport Ltd. for upgradation and maintenance of the Mumbai Airport.
The FIR said that on April 4, 2006 the AAI entered into an agreement with MIAL for modernisation, upkeep, operation and maintenance of the Mumbai airport with MIAL. "It is alleged that the promoters of the GVK group in MIAL in connivance with their executives and unidentified officials of the AAI resorted to siphoning of funds using different ways," officials said.
MIAL is a joint venture of the GVK Group, Airport Authority of India and a few foreign entities.
Catch up on all the latest Mumbai news, crime news, current affairs, and a complete guide from food to things to do and events across Mumbai. Also download the new mid-day Android and iOS apps to get latest updates.
ADVERTISEMENT
Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
