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ED probe 'finds diversion' of Rs 310 cr from MIAL through shell companies

A portion of this was routed back to the promoters of the GVK Group in the joint venture company through multiple complex transactions, according to the federal agency

Topics
Enforcement Directorate | Mial | GVK Group

Shrimi Choudhary  |  New Delhi 

The Enforcement Directorate (ED) has found close to a dozen shell companies and non-functional entities were being used for allegedly siphoning off Rs 310 crore from Mumbai International Airport (MIAL).

A portion of this was routed back to the promoters of the GVK Group in the joint venture company through multiple complex transactions. The federal agency is investigating a money laundering case against GVK Group, its chairman and promoter G V K Reddy, and others for alleged irregularities involving Rs 705 crore in the development of MIAL. “These shell firms entered into ...

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First Published: Thu, September 03 2020. 20:21 IST
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