FIR against Emaar MGF owner, top officials for Rs 60 crore fraud
By: Abhishek S.
Delhi, India : The Gurgaon Police have registered a criminal case under Section 420, 406, 120-B of the IPC against 10 persons including Shravan Gupta, his wife Shilpi Gupta, Mohammed Alabbar, along with the Chief Financial Officer (CFO) Sanjay Malhotra of Emaar MGF and were booked for fraud, cheating, forgery, for their alleged involvements in fraudulently selling licensed project worth Rs 60 crore to Green Heights Infrastructure Pvt Ltd, without the knowledge of DGTCP and later sold it off to investors.
The case came to light when the Director of Green Heights lodged a complaint in a court, which then directed the local police on December 23 to register an FIR against Emaar MGF Land Ltd, the company run by Shravan Gupta (whose name was also prominently highlighted in the infamous black money case)and its top officials.
The accused from MGF land Ltd had connived to coax the complainant to enter into a collaboration agreement dated April 4, 2011 for developing a 2.25 acres of land in Sector 66, Badshahpur, Gurgaon. According to sources, a huge amount was taken from Green Heights, after which the accused stopped interacting with officials of Green Heights and later forced them to sign a termination agreement assuring that the accused would refund the monies taken by them. It is interesting to note that Emaar MGF is an FDI and an FDI cannot sell the land in India. Shocked by this, the Director of Green Heights tried to register an FIR through police, who in turn denied to register an FIR. Finally, the Director moved Gurgaon Court after whose order the FIR got registered. The police haven’t started any investigation in this case and will be starting the initial investigation from January.
