MGF files FIR against Emaar officials over ‘fraudulent transfer’ of land, Real Estate News, ET RealEstate

NEW DELHI: MGF Developments Ltd has filed an FIR against officials of its erstwhile joint venture partner Emaar India, including Emaar Properties Group CEO, Amit Jain.

The FIR alleges offences of fraud, cheating, criminal breach of trust, and criminal conspiracy under the provisions of Sections 406, 409, 420, 467, 468, 471, and 120 B of the IPC.

MGF Developments Ltd, with its subsidiary companies, have complained in the FIR that Emaar officials, fraudulently and unauthorisedly, forged Board Resolutions of MGF subsidiary companies and executed general power of attorney (GPA) in favour of Emaar in respect of land owned by the subsidiaries of MGF.

As per the allegations, Emaar, 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 license for development of affordable group housing in Sector 81, Gurugram including the said land of…

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