The Central Bureau of Investigation (CBI) is conducting searches at the Mumbai and Hyderabad offices of GVK Group, according to top CBI officials.

“Two teams are conducting searches at the moment in the Mumbai and Hyderabad offices of GVK. Necessary documents and hard drives have been procured from the location,” said a senior CBI official requesting anonymity.

The FIR lodged by the CBI in the GVK Airport Holdings case alleges that the company siphoned off ₹705 crore through bogus contracts, under-reporting revenues, misuse of reserves of the holding company, allowing premium retail spaces to family and relatives at lower rates, and booking “exuberantly expensive” air and train travel for employees and those close to GVK Holdings.

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The FIR has been registered against GVK Holdings, its founder Gunupati Venkata Krishna Reddy, his son Venkata Sanjay Reddy, Managing Director of Mumbai International Airport Ltd (MIAL), and eight other people, including public servants of the Airport Authority of India (AAI), for allegedly siphoning off ₹705 crore from the operations of Mumbai airport.

“It is likely that more names will be added in the future to the FIR,” said another official.