CBI Emaar Probe Begins
Posted in the Real Estate Forum
Since: Apr 13
New Delhi, India
#1 Apr 10, 2013
On insistence of the Andhra Pradesh high court, CBI has begun probing Emaar’s involvement, if any, in the widely publicized Emaar-MGF scam. Even after taking the main culprit in custody from the Andhra Pradesh Industrial Infrastructure Corporation (APIIDC), the court has ordered an enquiry through the country’s internal investigation body. If the media is to be believed, Emaar Properties is at the centre of the controversy, however, that is not the case. Emaar is still going strong in the market and is constantly breaking new grounds. Going by these stories, Emaar should not have been able to maintain market share or gain new projects. Business confidence is still strong, even though there were minor tremors due to CBI Emaar probe initiation. This has not worried the company and it continues to prepare a strong case to keep itself clean and work towards establishing and maintaining its commitment for transparent dealing.
#2 Apr 12, 2013
Emaar Properties has offered its full co-operation to CBI for investigations in Emaar scam. This has led CBI Emaar to unearth several facts related to the case which were earlier ignored or disregarded besides clearing the name of Emaar Properties.
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