 "On June 27, CBI had registered a case against GVK group chairman GVK Reddy, MIAL and AAI officials for cheating and criminal conspiracy")
Shares of GVK Power and Infrastructure were locked in the 5 per cent lower circuit band, at Rs 3.23 apiece, on the BSE on Thursday after reports said the Enforcement Directorate (ED) is set to charge promoters of the GVK Group of companies for alleged money laundering after the Central Bureau of Investigation (CBI) accused them of alleged irregularities to the tune of Rs 705 crore in running the Mumbai airport.
“We are examining the CBI case and will be booking the accused under the Prevention of Money Laundering Act (PMLA) for alleged siphoning of funds through unfinished contracts and diverting
