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 Last Updated at September 3, 2020 22:12 IST

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

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

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs

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