NEW DELHI: The government has initiated an investigation into the books of Adani group-run Mumbai International Airport Ltd and the Navi Mumbai airport that MIAL is building.

The corporate affairs ministry has sought information between 2017-18 and 2021-22. Adani group had taken over Mumbai Airport and therefore by consequence Navi Mumbai Airport in July 2021. In a regulatory filing on BSE on Friday, Adani Enterprises said: “MIAL and Navi Mumbai International Airport Limited (NMIAL), stepdown subsidiaries of Adani Enterprises Ltd (Company) have received communications dated October 6, 2023 (received on October 12, 2023) from the office of the regional director, southeast region, Hyderabad, ministry of corporate affairs, relating to initiation of investigation of books of accounts and other books and papers in terms of section 210(1) of the Companies Act, 2013.”

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“We would like to clarify that acquisitions of MIAL and NMIAL by the company were completed during the year financial year 2021-22, significant part of the information / documents being sought through the above communications are pertaining to the prior period starting from 2017-18 to 2021-22.MIAL and NMIAL shall be responding to the said communications, in accordance with applicable legal provisions,” the filing added.
Adani Group will have 74% stake in MIAL, thereby getting the rights to develop Navi Mumbai airport, which includes the entire 50.5% stake of the previous promoter, GVK Group. The remaining 26% in MIAL will be with Airports Authority of India. Adani group runs airports in 7 cities and is building the upcoming Navi Mumbai airport.

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