ED raids on GVK Group in money laundering case

ED raids on GVK Group in money laundering case

The agency is probing alleged irregularities to the tune of Rs 705 crore in running the Mumbai airport

FPJ News ServiceUpdated: Wednesday, July 29, 2020, 01:32 AM IST
article-image

NEW DELHI: The ED 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 Prevention of Money Laundering Act (PMLA).

The ED and CBI case pertains to the alleged siphoning off Rs 705 crore from the funds of the MIAL, a joint venture under public-private partnership between GVK Airport Holdings Ltd and Airports Authority of India (AAI), besides other investors.

RECENT STORIES

Navi Mumbai: Waiter Stabbed To Death In Vashi While Trying To Save Himself During Bag Theft By...

Navi Mumbai: Waiter Stabbed To Death In Vashi While Trying To Save Himself During Bag Theft By...

Mumbai News: Trust Files Petition In Bombay HC Challenging Cancellation Of Wilson College Gymkhana...

Mumbai News: Trust Files Petition In Bombay HC Challenging Cancellation Of Wilson College Gymkhana...

Mumbai: MSCPCR Objects To Maharashtra Govt's 'Selfie' Directive For Students; Writes Letter To CM...

Mumbai: MSCPCR Objects To Maharashtra Govt's 'Selfie' Directive For Students; Writes Letter To CM...

Mumbai: Scorching Heat Leads To 13 New Stroke Cases; Reveals Public Health Dept

Mumbai: Scorching Heat Leads To 13 New Stroke Cases; Reveals Public Health Dept

Mumbai: Central Railway's Mumbai-Hazrat Nizamuddin Rajdhani And Mumbai-Nagpur Duronto Express Trains...

Mumbai: Central Railway's Mumbai-Hazrat Nizamuddin Rajdhani And Mumbai-Nagpur Duronto Express Trains...