Emaar ex-MD Shravan Gupta booked for fraud

[email protected]27 Aug, 2021News

In July 2020, the company had filed a complaint with the Gurugram Police Commissioner following which an investigation was carried out by the EOW and a case was registered at the DLF Phase-1 police station. According to the FIR, Shravan Gupta is accused of causing a loss of about Rs 182.48 crore to the company through illegal land deals based on fake documents. Emaar had stepped into the Indian real estate sector in 2005 through Foreign Direct Investment (FDI) and bought land worth crores in Gurugram and other cities and launched several projects.