Money laundering raids on group running Mumbai airport

KT NEWS SERVICE. Dated: 7/29/2020 12:38:46 PM

NEW DELHI, July 28: The Enforcement Directorate on Tuesday launched multiple searches in connection with a money laundering probe against the GVK group, the Mumbai International Airport Limited (MIAL).
It is probing alleged irregularities to the tune of Rs 705 crore in running the Mumbai airport. Raids were carried out at nine premises in Mumbai and Hyderabad under the provision of the Prevention of Money Laundering Act (PMLA).
The ED and CBI case pertains to the alleged siphoning off 705 crore rupees from the funds of the Mumbai International Airport Limited (MIAL), a joint venture under public-private partnership (PPP) between the GVK Airport Holdings Limited and the Airports Authority of India (AAI), besides other investors.

 

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