CBI books GVK group chairman in Mumbai airport scam
The CBI has booked Venkata Krishna Reddy Gunupati, chairman of the GVK Group of Companies and his son G V Sanjay Reddy
New Delhi: The CBI has booked Venkata Krishna Reddy Gunupati, chairman of the GVK Group of Companies and his son G V Sanjay Reddy, Managing Director of Mumbai International Airport Ltd, among others for alleged irregularities to the tune of Rs 705 crore in running of the airport, officials said.
On April 4, 2006 AAI entered into an agreement with MIAL for modernisation, upkeep, operation and maintenance of Mumbai airport.
It is alleged that promoters of GVK group in MIAL in connivance with their executives and unidentified officials of AAI resorted to siphoning off funds using different ways, officials said.
The promoters of GVK group allegedly misused reserve funds of MIAL to the tune of Rs 395 crore to finance their group companies, the CBI has alleged.
Besides GVK group chairman, the CBI has also booked his son GV Sanjay Reddy who is Managing Director of MIAL, companies MIAL, GVK Airport Holdings Ltd, nine other private companies and unidentified officials of AAI, they said.