Mumbai: Enforcement Directorate (ED) last week submitted its first chargesheet in the special court against GVK group of companies, Mumbai International Airport Ltd (MIAL) and its managing director Sanjay Reddy along with others for laundering Rs 500 crore through fictitious transactions to carry out further development of Mumbai’s international airport terminus (T-2).
ED alleged that the group controlled-MIAL had awarded a fake contract of civil work to companies with forged documents. The contacts were never executed but MIAL released the agreed payment. ED alleged that the contractors then transferred the money to GVK group companies or firms associated with its promoters and they laundered the money.
ED named over 21 accused in the case, including MIAL, GVK Airport Development Authority and GVK Energy along with other office-bearers of the firm involved in money-laundering. ED sources stated they will continue their investigation. GVK group declined to comment.
07/05/21 Vijay V Singh/Times of India
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