Probe into Mumbai airport to focus on GVK's alleged lapses

The investigation into the books of the Adani Group's Mumbai International Airport Ltd (MIAL) and its arm executing the Navi Mumbai airport ordered by the ministry of corporate affairs (MCA) earlier this month will focus on allegations of financial irregularities under its previous owner, the GVK group, a person familiar with the investigation said.

- Gireesh Chandra Prasad

The probe will look into the allegations of diversion of funds from MIAL during GVK's ownership, with the involvement of certain subcontractors hired for real estate development, the person said on condition of anonymity.

The MCA probe will look into the issues previously flagged in a Central Bureau of Investigation (CBI) first information report that claimed that bogus contracts were allegedly used to siphon off funds from MIAL. "The MCA probe that will look into the Companies Act related violations is expected to conclude quickly, in about three to six months," the person said.

A spokesperson for the GVK group said MCA sent letters to MIAL and Navi Mumbai International Airport Ltd (NMIAL), which are now Adani group companies, and also to a few companies unrelated to GVK, but none of the current GVK group companies have received any such letters.