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CBI Books GVK Group Chairman, Son; MIAL Denies Any Wrongdoing

Mumbai:   Four days after registering a case against GVK Group of Companies Chairman Gunupati Venkata Krishna Reddy and his son and Mumbai International Airport Ltd Managing Director G.V. Sanjay Reddy among others for alleged irregularities to the tune of Rs 705 crore in the running of the airport, the CBI carried out searches at several locations in Mumbai and Hyderabad, sources said on Thursday.

A CBI source connected to the probe told IANS that “multiple teams of CBI carrie d out searches in Mumbai and Hyderabad on Wednesday in connection with the probe.”

The source, however, said that the searches were not carried at the residential premises of the Reddys but at the premises of the companies named in the FIR.

The action comes in the wake of the FIR lodged by the CBI on June 27 against the Reddys among others for alleged irregularities.

According to the CBI, the Airport Authority of India (AAI) had formed a joint venture with GVK Airports Holdings Ltd, promoted by the GVK group under public private partnership firm Mumbai International Airport Ltd for upgradation and maintenance of Mumbai Airport.

The FIR said that on April 4, 2006 the AAI entered into an agreement with MIAL for modernisation, upkeep, operation and maintenance of Mumbai airport.

“It is alleged that the promoters of the GVK group in MIAL in connivance with their executives and unidentified officials of the AAI resorted to siphoning of funds using different ways,” the FIR said.

In response, a MIAL spokesperson said: “MIAL is surprised to note the registration of case by the CBI against MIAL and others. MIAL would have provided every assistance had the agency sought explanation or any document or even if a preliminary enquiry had been initiated.”

“MIAL is a transparent and responsible corporate entity which is committed to co-operate with the agency in its investigation to arrive at the truth.”

MIAL is a joint venture of the GVK Group, Airport Authority of India and a few foreign entities.

 (IANS)

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