Emaar Mgf

Emaar Properties rules out stake sale in india, eyes JV with Adani, others

Dubai-based Emaar Properties has asserted that it will not sell stakes in its Indian entity but the company is considering forming joint venture with big business houses in India including Adani Group. In a regulatory filing on September 18 at Dubai Financial Market, Emaar Properties said the company "is no longer considering sale of any stake in its Indian entity." "Alternatively, the company is considering joint venture with other large companies /groups in India, including Adani Group," it added. Dubai-based Emaar Properties entered the Indian real estate market in 2005 in partnership with India's MGF Development and had invested around Rs 8,500 crore through the joint venture firm Emaar MGF Land. In April 2016, Emaar Properties decided to end the joint venture through a demerger process. Emaar India has a large portfolio of residential and commercial spaces across Delhi-NCR, Mumbai, Mohali, Lucknow, Indore and Jaipur. Adani Group is active in the Indian real estate market thr

ED attaches Rs 834 cr land of Emaar India, MGF Developments under PMLA

The attached properties, spanning 401.65 acres in Gurugram and Delhi, are linked to an ongoing investigation into fraudulent land acquisitions

Emaar Properties faces FIR on MGF's complaint after Gurugram court order

On a Gurugram court's direction, police here have booked UAE-based realtor company Emaar Properties PJSC, its Indian subsidiary Emaar India and 13 others for allegedly cheating its former business partner MGF through undervaluation of land and other offences. Emaar India, in a statement, denied any "association of criminality with this issue" and alleged that it "appears to be nothing but another attempt by MGF to further harass Emaar and its employees. Following an order by Chief Judicial Magistrate Ramesh Chander on November 18, the FIR was registered on November 20 against EMAAR Properties PJSC and its Indian subsidiary, Emaar India Ltd, its director Bharat Bhushan Garg and others, the police said. The case was registered under various sections including 406 (criminal breach of trust), 418 (cheating with knowledge), 471 (using forged document), 120-B (criminal conspiracy) and 506 (criminal intimidation) of the IPC at the Sector 29 police station, they said. According to the ..

MGF files FIR against Emaar officials over 'fraudulent transfer' of land

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

Emaar India accuses MGF Developments of illegal transfer of land

Emaar has alleged that MGF's promoter Shravan Gupta and other associates are attempting to sell the land, valued over Rs 500 crore

Emaar MGF to pass on Rs 13 crore to homebuyers of Gurugram project

The respondent shall reduce prices to be realised from buyers of the flats, the NAA said

Emaar MGF found guilty of profiteering, to refund Rs 13 cr to homebuyers

The National Anti Profiteering Authority has ruled that the realty firm has benefited from additional input tax credit

ED seizes Rs 102.8-mn assets from Emaar MGF MD Shravan Gupta under FEMA

The petition under section 37 A (2) was filed before competent authority with an appeal to confirm the seizure order

Emaar MGF managing director Shravan Gupta steps down

The reality firm CFO Sanjay Malhotra will act as chief executive