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Mumbai airport scam: ED searches GVK promoters' residences, offices

ED sleuths are at nine locations in Mumbai, Hyderabad

Topics
Mumbai airport | GVK Power and Infrastructure | Mial

Shrimi Choudhary  |  New Delhi 

gvk group, MIAL, mumbai, airport, G V Krishna Reddy,  GVK group founder
The move follows the money laundering case registered against the promoters of the GVK group of companies, officials of Mumbai International Airport Ltd (MIAL), and a few other entities early this month

The Enforcement Directorate (ED) on Tuesday conducted extensive search operations at the residence and office premises of GVK group Chairman G V K Reddy and his son G V Sanjay Reddy in Mumbai and Hyderabad, in connection with the alleged Rs 705-crore scam.

The move follows the money laundering case registered against the promoters of the GVK group of companies, officials of Mumbai International Airport Ltd (MIAL), and a few other entities early this month.

Confirming the development, an ED official said the searches are underway in about nine locations in Hyderabad and Mumbai, including some entry operators connected to the

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ED had pressed Section 3 of the Prevention of Money Laundering Act (PMLA), which deals with concealing proceeds of a crime where the accused shall be guilty of money laundering.

The ED action follows the criminal case registered by the Central Bureau of Investigation (CBI) on June 27 against Reddys and others. The case also includes the names of some Airports Authority of India (AAI) officials and nine other private firms.

The case is related to allegations of irregularities amounting to Rs 705 crore in developing The investigative agency alleged that the money was siphoned off by the accused, causing a loss to the exchequer between 2012 and 2018.

Sources in the ED indicated that the people connected with the case would be summoned and quizzed in the coming weeks.

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First Published: Tue, July 28 2020. 12:21 IST
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