Gurgaon court orders police to register FIR against MGF by Sunday

Gurgaon court has ordered an FIR of cheating against realty developer MGF Developments of cheating on a complaint by M3M India. The court has also directed the
SHO City, Gurgaon to lodge the FIR and place the copy of registered FIR on or before January 2. “The SHO City, Gurugram is also directed to appear in person in court on January 2 at about 11 am and submit his written reply for not registering the FIR despite the court order,” the court has said on Saturday.

As per the court order, the SHO did not register the FIR for two days after the first order. As per the complaint by M3M, EMMAR-MGF approached them with the offer of selling their land parcel of 31 acres situated in village Choma, Gurugram.
The chairman represented that their company was running in losses and they need immediate finances. “Under such inducement, the complainant company through their chairman agreed with the offer regarding the land situated at. village Choma, Gurugram and also 7.737 acres at village Kherki Daula, Gurugram separately,” the order said. M3M paid Rs 88 crore in November 2016 and in December 2021, the complainant company came to know that the accused persons have sold the said land to another company. “MGF has done a fraud with us. We have full faith in the judiciary of our country and police. We are sure that action would be taken and justice would be done,” said Ekta Yadav, Legal head M3M Group.

MGF had formed a joint venture with Dubai-based Emaar Properties, which entered India in 2005 making the largest foreign direct investment in the realty sector till then under Emaar MGF Land. In April 2016, Emaar decided to end the joint venture and two months later, Shravan Gupta, the then executive vice chairman and managing director of the joint venture, resigned. The demerger was approved in July 2018.

Currently, the erstwhile partners are at loggerheads after Emaar accused fraud in joint venture agreements and land deals and filed a petition with the NCLT in November 2019, seeking investigation into its allegations. It has sought bank guarantees of Rs 2,400 crore to secure its losses.