The Central Bureau of Investigation (CBI), it is learnt, has booked cases against nine companies linked to the GVK Group, including Ms/ Orbit Travel and Tours Private Limited whose director is Pinky Reddy (Gunupati Aparna Reddy). 50-year-old Pinky Reddy is daughter of politician-industrialist T Subbarami Reddy. Pinky Reddy is a socialite known for her massive parties.
According to the CBI, GVK Group had entered into an agreement with Orbit Travel and Tours Private Limited to book train and air travel tickets and hotel booking for all the group employees of GVK. These employees were not even remotely connected with the affairs of Mumbai International Airport Limited (MIAL). The CBI probe revealed that promoters of GVK group misused funds of MIAL.
The premier investigating agency had already booked cases against GVK group’s chairman Gunupati Venkata Krishna Reddy and son Gunupati Sanjay Reddy for siphoning off funds to a tune of Rs 705 crore which was meant for the development of Mumbai International Airport.
The CBI had also filed a criminal case against 12 others including those of the GVK group, officials of MIAL, the Airports Authority of India (AAI) and several entities for alleged cheating, fraud, and criminal conspiracy under the Prevention of Corruption Act.
The Airport Authority of India (AAI) had formed a JV with GVK Airports Holdings Limited, promoted by the GVK group under public private partnership firm Mumbai International Airport Ltd. for upgradation and maintenance of Mumbai Airport.
In 2006, the AAI entered into an agreement with MIAL for modernisation, upkeep, operation and maintenance of Mumbai airport. “It is alleged that the promoters of the GVK group in MIAL in connivance with their executives and unidentified officials of the AAI resorted to siphoning of funds using different ways,” the CBI FIR noted.
According to the CBI, Rs 310 crore was siphoned off by showing bogus work contracts to nine firms. Further, the GVK Group promoters under reported revenue earnings of MIAL for meeting personal expenses. It is also found that the promoter of GVK Group misused MIAL’s surplus funds amounting to Rs 395 crore to finance group companies, according to the CBI.
