The Enforcement Directorate (ED) is conducting searches in Hyderabad on Tuesday against the GVK Group in connection with the money laundering probe in the Mumbai International Airport Limited (MIAL) case. They are conducting searches at three locations in Hyderabad, apart from simultaneous searches at Mumbai and other places.
The ED had recorded an illegal tax avoidance argument against the GVK Group, MIAL and others on July 12 to test affirmed abnormalities to the tune of Rs 705 crore in running the Mumbai airport.
Earlier this month, the Central Bureau of Investigation (CBI) had enlisted a body of evidence against GVK for the affirmed guiding of Rs 705 crore from Mumbai International Airport Limited assets through fake agreements, underreported incomes, abuse of stores for the holding organization; by permitting premium retail spaces to family and family members at lower rates; by booking “exuberantly expensive” air and train travel for workers and those near GVK Holdings.
It booked GVK Holdings, its founder Gunupati Venkata Krishna Reddy, his son Venkata Sanjay Reddy, Managing Director of MIAL alongside eight other people, including community workers of the Airport Authority of India (AAI) on charges of cheating and phony.
MIAL is a joint endeavor under open private organization (PPP) between the GVK Airport Holdings Limited and AAI.
