Emaar alleges 'fraud'; issues warning against ex-partner MGF

Khyati Shah02 Jul, 2021Business

Emaar India Ltd (EIL), the Indian unit of Dubai-based Emaar Properties PJSC, in a public notice issued on Monday, warned people against dealing with its former partner MGF Group regarding 4.8 acre land in Okhla area of Delhi. The public notice has been issued jointly by Emaar properties PJSC, Emaar holding and Emaar India Limited (previously Emaar MGF land Limited). Both the companies said their joint venture Emaar MGF Land Ltd is going through insolvency proceedings at the National Company Law Tribunal (NCLT). The outcome of the NCLT proceedings is going to have a direct bearing on the land, said the notice.