M3M acquires 30-acre land in Gurugram for Rs.350-Cr

Realty developer M3M has bought a 30-acre plot from IREO group in Sector 58, Gurugram by taking over an INR 350 crore debt it owed to L&T Finance. Internal accruals and sales receivables will be used to support the building. The IREO group is currently being probed for money laundering by the Enforcement Directorate.