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CBI's FIR against GVK Reddy: Here are some interesting details

Friday, July 3, 2020 • Tamil Comments

The fall of Gunapati Venkata Krishna Reddy, the well-known chairman of GVK Group, is believed to be imminent. A couple of days back, GVK Reddy and his son Sanjay Reddy were reportedly booked by CBI on charges related to the running of the Mumbai International Airport, which has been run by GVK Group and Airport Authority of India (AAI).

The CBI believes that GVK Reddy is guilty of swindling of funds over the years. He is in the thick of a scam which allegedly runs into Rs 705 Cr.

Commenting on the case, Arvind Gunasekhar of NDTV recently wrote, "At a time when the government is pushing for Public-Private Partnership models for Airports, the CBI unearths a massive scam in the operation of Mumbai airport, books GVK Reddy of GVK Group and AAI officials for causing wrongful loss of more than Rs 800 Cr to the government (wrongful gain to themselves) in just 6 years."

As of now, the FIR by the investigating agency turning into a charge sheet is a distant reality, commentators suggest. But the very fact that one of the richest Telugu men is facing investigation itself tells a tale of its own. Besides running four five star hotels in the capital city of Telangana, he also owns a palatial bungalow in Hyderabad's Banjara Hills.

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