The CBI filed cases against Gunupati Venkata Krishna Reddy, the owner and chairman of GVK group of companies, and his son G.V. Sanjay Reddy, the Managing Director of Mumbai International Airport, Pvt. Ltd., four days ago, with respect to a few alleged money laundering rumors.
Rumors started floating that there was a huge scam involved in the running of the Mumbai airport, as huge as Rs. 705 Crores, after which these cases were filed against the father and the son. Now, four days after filing the cases, the CBI have carried out searches in various places belonging to the duo, in Mumbai and Hyderabad.
However, these searches were not carried out at the residences of the individuals, but at the places that have been mentioned in the FIR. This is the same FIR corresponding to the case filed against the father and son, with respect to laundering of money, as much as Rs. 705 Crores.
The CBI said that in 2006, the Airport Authority of India (AAI) had gone into an agreement with GVK Airport Holdings Limited, in association with Mumbai International Airport Limited, to maintain and upgrade the Mumbai Airport. The FIR clearly stated that on April 4, 2006, the AAI made an agreement with MIAL for the modernisation, upkeep, operation and maintenance of the Mumbai Airport.
It is said that the irregularities with respect to money took place during the implementation of this agreement, where Rs. 705 Crores were at stake.
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