The Enforcement Directorate (ED) today conducted search operations at offices of real estate company Emaar-MGF, a joint venture between MGF India and the Dubai-based Emaar. These operations were of a routine nature and were not linked to the investigation into the dealings of the former Jharkhand chief minister Madhu Koda, the company said in a statement. Some news reports said the search operations were triggered by the directorate finding documents that showed Koda’s associates on the boards of some Emaar group companies.

“There was a routine search operation by the ED at some of our premises in Delhi. We have fully cooperated with the investigation. Most importantly, as inaccurately reported in some media, the investigation has no link to Madhu Koda’s arrest. News related to this is meritless and frivolous,” the company said. Emaar-MGF is awaiting the regulator’s nod for an initial public offer to Rs 3,850 crore.

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