Home / Companies / News /  Mumbai International Airport says will cooperate in CBI probe

Expressing "surprise" over the filing of FIR against it by the Central Bureau of Investigation (CBI), Mumbai International Airport Ltd (MIAL) said it will cooperate with the agency in the probe.

CBI has filed cases against Dr GVK Reddy, Chairman of GVK Group, Mumbai International Airport, officials of Airport Authority of India and others, for alleged irregularities worth more than 700 crores in the development of Mumbai Airport.

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

"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," the company further said in the statement.

MIAL is a joint venture between GVK group-led consortium and the Airports Authority of India. The statement came after the registration of a case against Venkata Krishna Reddy Gunupati, the chairman of the GVK Group of Companies, and his son G V Sanjay Reddy, Managing Director of MIAL, among others by the CBI for alleged irregularities of 705 crore in the running of the airport.

"From 2012 onwards, the promoters of GVK Group with criminal intention to cause loss to AAI, used the surplus funds of MIAL to the tune of 395 crore to finance their other group companies," the FIR said.

Yesterday, the CBI also carried out searches at the offices of the GVK group in Mumbai and Hyderabad. According to CBI sources, searches were conducted at Mumbai International Airport Limited (MIAL) and other locations affiliated to GVK Group chairman Dr GVK Reddy on Wednesday.

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