Income tax officials raid DIAL premises | business-news | Hindustan Times
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Income tax officials raid DIAL premises

business Updated: Jun 23, 2016 13:32 IST
Timsy Jaipuria

Inside the Delhi International Airport Pvt Ltd. It is developed and maintained by a consortium of companies led by GMR.(Hindustan Times)

The income tax department on Wednesday raided the official and residential premises of employees of Delhi International Airport (P) Limited (DIAL) on “tax evasion charges”.

Talking to HT, senior officials said that raids were conducted at the “official and residential premises of the company, its various senior management and employees of DIAL in Delhi, Faridabad, Gurgaon, Bangalore and Mumbai.”

DIAL is a joint venture, formed as a consortium between diversified infrastructure major -- GMR Group (54%), Airports Authority of India (26%), and Fraport AG & Eraman Malaysia (10% each). GMR is the lead member of the consortium, Fraport AG is the airport operator and Eraman Malaysia is the retail advisor.

“As many as 15 search operations and 20 surveys are being conducted. Several employees and management officials of the joint venture are under scanner,” sources said.

Various lockers, bank accounts, documents, and cash have been seized by the tax officials.

“Emails of communication are also blocked and retrieved by the tax officials,” sources added.

Till 9pm on Wednesday, the tax operations were continuing.

A DIAL spokesperson said: “As a routine survey of DIAL JVs, Income Tax officials today visited our office and we extended full cooperation to them. DIAL follows the highest level of ethical and legal standards in its businesses. As a leading airport in the world, we put in place robust institutional measures to monitor as well as implement corporate governance of the highest order.”

In the past media reports suggested that GMR has been showing reluctance to share certain documents related to the accounts of DIAL with AAI even after the government informing GMR of a CAG audit of AAI’s revenues from DIAL.