Free Articles  >>  Business And Finance >>  Page 1  >> 

Emaar Scam Accused Offers Full Cooperation To Investigating Agency CBI In Emaar Case

Emaar MGF, co-accused along with members of APIIC in the alleged Emaar case in Hyderabad have consented to support the investigating agencies in order to clarify the allegations made against the real estate firm and clear its name. The Emaar scam accused have maintained that there have been no wrong doings from the real estate firm end since the first day of allegations, and the alleged irregularities, if any, may only have been from other sources involved in the ventures. In this regards, it is worth mentioning that the allegations primarily centres around the role of Andhra Pradesh Industrial Infrastructure or APIIC 's and Emaar name was overhyped by the media in the case.

Emaar Properties was set up in 1997 and is a Dubai based real estate firm. It entered the Indian real estate industry through a partnership with MGF Development Limited, a noted retail real estate developer in the domestic market. The combined entity Emaar MGF was set up with huge fanfare as it bought in an FDI of over half a billion dollars, which was considered as largest foreign investment of that time. As the Indian market was recently opened up for international investor, the entry created a buzz much to the dislike of domestic players who viewed the grand entry as a threat to their own interest and aspirations. Famed in the world for its efficiency and precision, Emaar completed several projects successfully and undertook scores of new ones throughout the length and breadth of the country. The first major hurdle that the real estate firm came across in the country was in the city of Hyderabad where the state run agency working in collaboration with Emaar MGF, was accused of alleged irregularities in land dealings and subsequent dilution of public stake in the project. Emaar MGF with no knowledge of such dealings has always maintained their integrity and this claim of the Emaar scam accused is well supported by CBI findings. Altogether, Emaar case is clearly emerging to be a case of sabotage by people with vested interest towards the real estate firm.

With a view to clear its intentions in India, Emaar has announced several new ventures which clearly states its long term plans in the country. From the world class Commonwealth Games Village in the capital city of New Delhi to various residential as well as commercial hubs across the nation, Emaar has shown its building capabilities time and again. Jaipur, Haryana, Punjab, Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Maharashtra are few major Indian states where Emaar has taken up major developmental ventures. Besides construction and development of world class structures, Emaar has recently announced its intention to manage seven star hospitality units built by them in the capital city and Kolkata. This announcement has taken the Indian hospitality market by surprise and the entire market is abuzz with Emaar's extensive expertise and efficiency in hospitality management. It is just a matter of time when Emaar will be the forerunner of this industry too.

About Author Ankit Dua :

The author loves to write small and informative articles on topics related to Real Estate and Travel. In this article he is expressing his thoughts regarding a property case that took place in Hyderabad. (<a href="" target="_blank"></a>)

Article Source:
Article Url:

Article Added on Sunday, May 25, 2014
Other Articles by Ankit Dua

Emaar Scam Accused Served CBI Summons In Emaar Case
Emaar case has long faded out from main stream media for obvious reasons. With CBI in the investigation seat, it was inevitable that all parties suspected to be a part of the case were called in for questioning. In this regards, all Emaar scam accused parties have been served CBI summons and case is being thoroughly investigated to get to the bottom of the controversy. Initially, there was a misconception concerning the role of the real estate firm, Emaar and its partner MGF in the case and...

Emaar MGF Responds Positively to CBI Summons in Emaar Case
Emaar case is considered as one of the most iniquitous scam in the Indian real estate industry. Contrary to the name, the case has little to do with the real estate firm Emaar MGF and Emaar Properties. Moreover, media has overhyped the alleged controversy by christening it as Emaar case, thus pinning all the blame on the real estate developer without delving any further into the case. With state agency, CBI conducting a full fledged investigation into the case, the questioning of all parties...

Emaar MGF CBI Close To Solving The Puzzle Called Emaar MGF Scam
Emaar MGF, CBI has been working in close co-operation to resolve the infamous Emaar case. Together, Emaar MGF, CBI discovered several twist and turns in the case that it has left many to wonder the real reasons behind the allegations. During the course of investigation, summons was issued to all Emaar scam accused parties to get to the nature of all deals. Emaar too being an Emaar scam accused party received the summons and has come out to support the investigating agency unconditionally in...

Emaar Accused Responds Positively To CBI Summons In Emaar Property Scam Case
Emaar MGF is one of the leading players in the Indian real estate sector. Formed in 2005 by a union between Emaar Properties and MGF Development Limited, Emaar MGF acquired fame on Indian soil with the on schedule completion of the international standard Commonwealth Games Village in the heart of the country, New Delhi. The company started operation with a huge capital outlay of over 4 billion dollars and completed several mega projects in a short span of 8 years. With initial focus on...

Emaar Accused In Hyderabad Land Scam Aides CBI To Bring To Justice The Real Culprits
Emaar Properties is recognised by the world at large as a stalwart of real estate builder. Founded in 1997, the real estate firm has come a long way since then. Presently, the firm has more than 60 active companies and successful real estate operations in most Middle Eastern countries including Syria, Lebanon, Egypt, Morocco, Jordan and Saudi Arabia. With the immense response in the Middle East, it also set up shops in Asian countries such as India, Pakistan and Indonesia. Even western...

Emaar MGF Scam Debunked by CBI Emaar Investigations
CBI Emaar jointly investigated the allegations of undervaluation of land in a Hyderabad project which came to be known as Emaar MGF scam in the popular media and found that how vulnerable foreign players are when the local parties with vested interest try to smudge their reputation to earn a fast buck. The initial hype created by the media somehow made people believe that a company as big as Emaar can also fall for the lucrative offers by corrupt officials but soon enough the truth started...

Emaar MGF CBI Face Off in Emaar Property Scam Yields Result
Emaar MGF, CBI face-off became inevitable as CBI intended to question all parties suspected to be part of the Emaar Property scam. This face-off was however, a blessing in disguise for the real estate firm as it offered a chance to clarify and clear its role in the alleged scam. Emaar MGF has come out in strong denial about its alleged involvement in the Emaar property scam since day one of accusation, which was earlier ignored as a tactics to mislead the public. However, Emaar MGF, CBI...

Emaar CBI Jointly Demystify The Alleged Emaar Properties Case
Emaar CBI investigations into the alleged Emaar properties case of Hyderabad are slowly but surely demystifying the real controversy surrounding the alleged wrongdoings in the Hyderabad land scam. In the city of Hyderabad, soon after the project related to a luxury township with a 18 hole golf course was launched, there emerged rumors that Emaar may have conspired to gain illegally from the project. It was alleged that the government agency with which Emaar was jointly constructing the...

MGF Scam Makes CBI Emaar Work Together In Pursuit Of Real Culprits
MGF Scam is considered as one of the most hyped controversy that Indian real estate industry has seen. A world famous developer's name, a consumer list that boast of celebrities and other elite members of Indian society were few of the attributes that made it one of the most sensational news of the recent times. MGF scam originated in the city of Hyderabad from properties owned by the real estate giant, which was being co-developed with the state of Andhra Pradesh run APIIC or Andhra Pradesh...

Emaar MGF Scam Slowly Fades Out From Media Glare As Investigations Reveal No Role Of Emaar In It
Presently, CBI investigation into the Emaar MGF scam or Emaar Property scam is in full swing and initial enquiries have revealed that the real estate developer had no role to play in the alleged scam. It has also come to light that the real estate firm may have been taken for a ride by various parties with vested interest by pinning all the blame on it to avoid being questioned or investigated. It is worth mentioning here that Emaar Properties and its Indian partner MGF has denied all...

Click here to see More Articles by Ankit Dua
Publishers / Webmasters
Article ID: 462454
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:

210 Users Online!!
Related Articles:
Latest Articles:
Business And Finance >> Top 50 Articles on Business And Finance
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts

Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of and/or its owners.

Copyright AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

Premium Linux Reseller Hosting Provided By AwareIndia

Company IDS