A first information report has been lodged against 14 people, including former and existing top officials of Emaar India Limited and Group CEO of Emaar Properties, at the behest of MGF Developments Ltd. on charges of forgery, criminal breach of trust, criminal conspiracy and cheating under the Indian Penal Code.
The FIR said the accused wrongly enriched themselves to the tune of ₹25 crore at the cost of the complainant.
According to the FIR, Emaar officials fraudulently and unauthorisedly forged board resolutions of MGF subsidiary companies and executed general power of attorney in favour of Emaar in respect of land owned by the subsidiaries of MGF in Kherki Daula village in Gurugram’s Sector 81.
The MGF alleged that Emaar India, on the basis of fraudulent GPA, entered into collaboration agreement in respect of the said land with a local builder of Gurugram, who thereupon, has applied for grant of licence for development of Affordable Group Housing in Sector 81 Gurugram, including the said land of MGF subsidiaries. The licence is in the process before the Department of Town and Country Planning and once the licence is issued in respect of such land, the prospective buyers/customers of the said proposed project were bound to suffer.
The MGF has said its subsidiary companies for no wrong done on their part shall unnecessarily be fastened under the provisions of RERA for the said project.
Emaar India, in a press statement, said: “Emaar India is one among the leading realty companies with a presence of over 15 years in Indian realty sector. As a responsible corporate and a law abiding company, we ensure that we are always in compliance with prescribed laws of the land. We have full faith in the country’s judiciary and will cooperate with the required legal process.”
