This story is from October 16, 2019

Mumbai airport operator's books under government lens

Ministry of corporate affairs has ordered an inspection of Mumbai International Airport Ltd's (MIAL) books of accounts. MIAL is a step-down subsidiary of infrastructure major GVK Group. TV reports had suggested a whistleblower's complaint led to the investigation as inspection of books by MCA is uncommon and typically takes place after a preliminary probe.
Mumbai airport operator's books under government lens
(Representative image)
Key Highlights
  • MIAL, a step-down subsidiary of GVKPIL, has been operating Mumbai international airport since May 2006 after it was privatised
  • For the 2018-19 fiscal, MIAL handled nearly 49 million passengers and posted a revenue of Rs 3,673 crore
HYDERABAD: Infrastructure major GVK Group's is under the government scanner with the ministry of corporate affairs (MCA) ordering inspection of Mumbai International Airport Ltd's (MIAL) books of accounts.
Dismissing reports of several group entities being probed, a spokesperson for the Hyderabad-based group said only MIAL received a standard communication from MCA seeking to inspect its books of accounts under Section 206 of Companies Act.

TV reports had suggested there was a complaint by a whistleblower, which led to action by the ministry. An inspection of books by MCA is not very common and typically takes place after a preliminary probe by the registrar of companies.
MIAL, a step-down subsidiary of GVKPIL, has been operating Mumbai's Chhatrapati Shivaji Maharaj International Airport since May 2006 after it was privatised.
Not aware of complaint, allegations baseless: GVK
"None of the GVK companies, with the exception of MIAL, have received any communication from the MCA. We confirm that only MIAL has received a communication asking for certain details/information, which are being furnished in normal course," a spokesperson said.
"GVK is not aware of any whistleblower complaint about allegations that have appeared in a section of the media are baseless and hence we would like to refrain from responding," the spokesperson added.
For the 2018-19 fiscal, MIAL handled nearly 49 million passengers and posted a revenue of Rs 3,673 crore.
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