Real Estate

Real Estate Transactions

MGF files FIR against Emaar India in Gurugram alleging documents forgery

Economic Times  

MGF Developments Ltd has filed an FIR against senior executives of Emaar India at Gurugram police station, alleging that they forged board resolutions of MGF subsidiary companies and executed general power of attorney in favour of Emaar in matters related to some land parcels. The land parcels under question lie in Sector 81 Gurugram and were owned by the MGF subsidiaries. MGF has alleged that Emaar on the basis of a general power of attorney entered into a collaboration agreement with a local builder of Gurugram, who has applied for a license for development of Affordable Group Housing in Sector 81 Gurugram, including the land of MGF subsidiaries. Cassock Properties Private Limited and Tushar Projects Private Limited are wholly owned subsidiaries of MGF Developments Limited. While, Cassock is the owner of approximately 3.84 acre land in Sector 81, Gurugram, Haryana and some more land in Village Kherki Daula, Gurgaon, Tushar Projects Private Limited owns approx. 2.67 acre land in Kherki Daula, Gurugram.