Emaar India accuses MGF Developments of illegal transfer of land

Khyati Shah02 Jul, 2021Business

Emaar India, the local subsidiary of the Dubai-based real estate major, has accused its erstwhile partner MGF Developments of fraud and illegal transfer of a land parcel in Delhi. Emaar has alleged that MGF?s promoter Shravan Gupta and other associates are attempting to sell the land, valued over Rs 500 crore. According to it, the 4.88-acre land parcel, located in Okhla, was part of illegal transfers of properties that took place during its joint venture with MGF between 2005 and 2016. ?We were informed by credible sources that MGF was likely to deal with the Okhla land