 "I-T dept searches DIAL premises, suspects non-disclosure of finances")
The Income- tax department on Wednesday carried out searches at the offices of Delhi Indira Gandhi International Airport (DIAL) in New Delhi. DIAL is a joint venture consortium of GMR Group, Airports Authority of India and transport company Fraport.
"Searches are on the basis of suspicion that the company had not disclosed all financial information to the department. The operations are still underway and will continue till late in the evening," a senior Income-tax official told Business Standard.
"As a routine survey of DIAL JVs, Income Tax officials today visited our office and we extended full cooperation to them. DIAL follows the highest level of ethical and legal standards in its businesses. As a leading airport in the world, we put in place robust institutional measures to monitor as well as implement corporate governance of the highest order." said DIAL spokesperson.
GMR Group is a global conglomerate with interests in airport, energy, transportation and urban infrastructure. The group has fifteen power generation projects, of which ten are operational and five are under development. GMR had developed and operates Indira Gandhi International Airport in New Delhi and greenfield Rajiv Gandhi international airport at Hyderabad.
"Searches are on the basis of suspicion that the company had not disclosed all financial information to the department. The operations are still underway and will continue till late in the evening," a senior Income-tax official told Business Standard.
"As a routine survey of DIAL JVs, Income Tax officials today visited our office and we extended full cooperation to them. DIAL follows the highest level of ethical and legal standards in its businesses. As a leading airport in the world, we put in place robust institutional measures to monitor as well as implement corporate governance of the highest order." said DIAL spokesperson.
GMR Group is a global conglomerate with interests in airport, energy, transportation and urban infrastructure. The group has fifteen power generation projects, of which ten are operational and five are under development. GMR had developed and operates Indira Gandhi International Airport in New Delhi and greenfield Rajiv Gandhi international airport at Hyderabad.
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