AMN
The CBI has lodged a case of cheating and forgery against the GVK Group, its chairman Venkata Krishna Reddy and Mumbai International Airport Ltd (MIAL) managing director Sanjay Reddy, among others, for wrongful gain of Rs 705 crore and a loss to the public exchequer between 2012 and 2018.
The CBI said in FIR that the promoters of GVK Group, in connivance with unknown officials of the Airports Authority of India (AAI), committed fraud that caused the loss. It also said that the accused siphoned off funds meant for the development of the airport by showing bogus work contracts, misusing the reserve fund, inflating expenditure and under-reporting earnings.