The probe will look into the allegations of diversion of funds from MIAL during GVK’s ownership, with the involvement of certain sub-contractors 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.

“In the letter, MCA asked MIAL and NMIAL for information for the period starting from FY18 to FY22. It would not be out of place here to highlight that both the Directorate of Enforcement (ED) and CBI had already conducted a detailed investigation on such matters covering the period starting from the year 2012. The information will be sent by MIAL and NMIAL, and such other companies to which notices have been sent. We would also like to inform you that the GVK group had limited control over the management and operations of the airport post entering into a cooperation agreement on 31 August 2020,” the spokesperson said.

The spokesperson also rejected the suggestions of “financial irregularities” and charges of “diversion of funds” from the companies under the GVK group and questioned the references in this regard made in a Mint query to the group.

“We do not understand how you have come to such a conclusion as at this stage, they only asked for information, and nowhere does it state what you are saying. We would also like to inform you that the moment investigations were started by CBI and ED, the books of accounts were also subjected to detailed review and examination by MCA,” the GVK spokesperson said.

Emails sent to the spokesperson for MCA and the Adani group on Friday and to CBI on Sunday seeking comments for the story remained unanswered.

The Adani group had disclosed the initiation of the MCA probe in a notice to stock exchanges on 13 October, saying its acquisition of MIAL and NMIAL was completed during FY22 and that a significant part of the information or documents sought by the authority was for the prior period of FY18 to FY22 but did not indicate what the probe may be about.

The June 2020 FIR from CBI, which is available on the probe agency’s website, alleged irregularities like bogus work contracts, misuse of funds and under-reporting of revenues of MIAL, among other things.

A person informed about the Adani group’s acquisition of MIAL and NMIAL said post the acquisition, the Adani group went the extra mile of making certain pending payments, such as workers’ wages during the pandemic and dues to a government security force.

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Updated: 22 Oct 2023, 11:41 PM IST