MGF Group has an old history of forgery and fraud with many notorious scams
Emmar India Limited, previously known as Emaar MGF land Limited has issued a public notice, thereby cautioning common public, not to deal with MGF group regarding okhala land. NCLT proceedings are at an advanced stage for this very piece of land and this is going to have a direct bearing on Okhla land.
MGF Group, has an old history of forgery and fraud with many notorious scams, registered in its name. To name a few, Hyderabad land scam and VVIP chopper scam are just a tip of this MGF iceberg. Status of this very Okhla land is also a living testimony of large scale fraudulent practices, adopted by MGF group. Emmar has a watertight case against MGF in NCLT regarding fraudulent siphoning of land parcel of approximately 4.8 acres in Okhla, Delhi.
As you would be aware, that Emaar India Limited (previously Emaar MGF) was a joint venture between Emaar Properties PJSC, Dubai and MGF Development Limited. After the change of control through an investigation, it was found that during the period when MGF group was in control of Emaar MGF, multiple unauthorised party related transactions were undertaken by the MGF group comprising MGF, Mr Shravan Gupta, Ms Shilpa Gupta and their associated/related entities or person.
Accordingly, a petition under Companies Act 2013 was filed at the National Company Law Tribunal, principal branch Delhi. These very NCLT proceedings are at an advanced stage and hopefully, big-scale fraud conducted by MGF group will soon be exposed and substantiated in due course of law. Therefore we caution common public not to deal with MGF group, SSP Buildcon Private Limited, Mr Shravan Gupta, Ms Shilpa Gupta or any of their related/associated entities or persons with respect to this Okhla land.
In case anyone decides to proceed despite this notice, under Indian law the risk would be entire to your account. This public notice has been issued jointly by Emaar properties PJSC, Emaar holding and Emmar India Limited (previously Emaar MGF land Limited).
