Emaar moves NCLT over alleged fraud by MGF�s Shravan Gupta, others
Khyati Shah02 Jul, 2021Business
Real estate developer Emaar Properties has filed a complaint with the National Company Law Tribunal (NCLT) against MGF, its Chairman Shravan Gupta, among others, over an alleged fraud. Emaar Properties alleged fraud by Gupta and his associates while he was the MD and CEO of their erstwhile joint venture, Emaar MGF Land. In its petition, it has sought security in the form of bank guarantees of Rs 2,400 crore to cover losses in the joint venture in India.
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