Emaar MGF ex-MD, wife booked for fraud

Gurugram, February 12

Emaar India has filed a police complaint against its former joint venture partner Shravan Gupta for allegedly cheating the company of Rs 180 crore through an illegal land deal using forged documents.

The FIR also names Gupta’s wife Shilpa Gupta, Rakshit Jain, Bishnu Kumar Singh, Prem Ranjan Choudhary, Chandra Bhushan Rai, Rajeev Gupta, MGF Developments Limited and Kayo Developers Private Limited. According to information, the former MD of the joint venture firm Emaar-MGF had also cheated the Department of Town and Country Planning (DTCP) of Haryana by “unfair transfer of land parcels using forged documents”. No official statement has been released by Gupta or any MGF representative so far. Dubai-based Emaar Properties had stepped into the Indian real estate sector in 2005 and launched several projects in Gurugram and other cities . The two partners parted ways in 2016. — OC