MGF DEVELOPMENTS LTD
Court allows cheating proceedings against M3M in Gurugram land dispute over alleged non-payment of consideration
A Delhi court upheld a cheating and criminal conspiracy case against M3M India Pvt Ltd regarding a land dispute. The court ruled that the case could proceed under relevant sections of the Indian Penal Code. However, it set aside the cognizance for criminal breach of trust due to insufficient evidence of entrustment. The court instructed the parties to appear before the Chief Judicial Magistrate on a specified date.
ED attaches properties worth Rs 834 crore of Emaar and MGF
The Enforcement Directorate has attached immovable properties of over 401 acres worth ₹834 crore belonging to Emaar India Ltd and MGF Developments Ltd. The probe follows a CBI FIR implicating former Haryana CM Bhupinder Singh Hooda and others in a case of alleged money laundering linked to land acquisition in Gurugram.
NCLT allows withdrawal of insolvency proceedings against MGF Developments
On Tuesday, NCLT had initiated insolvency proceedings against MGF on a application under Section 7 of the IBC Code, 2016 filed by The Vilas Condominium Association consisting of homebuyers having 327 units allotted in the name of members of the association.
MGF files FIR against Emaar India in Gurgaon
MGF has alleged that Emaar on the basis of a general power of attorney (GPA) 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.
MGF files FIR against Emaar India executives over forging board resolutions
MGF Developments 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
NCLT restrains MGF from creating third-party rights on Gurugram land
Emaar has received this NCLT order against the developer in response to a case related to the main petition that accused MGF Developments, its chairman Shravan Gupta and his wife Shilpa Gupta of siphoning off funds and fraudulent activities.
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Emaar India posts Rs 231 crore loss for H1FY19
Total income rose to Rs 1,211.17 crore during the first half of 2018-19 fiscal.
Emaar PJSC plans to raise stake in MGF joint venture to over 74%
Emaar PJSC holds 50% stake in Emaar MGF Land, which the Dubai government-owned company had set up as a joint venture with Sharvan Gupta-promoted MGF Development.
Emaar MGF MD Shravan Gupta steps down
The management would ensure that the international best practices of Emaar will be implemented in the projects of the company and the quality will be of Emaar's standards.
Dubai-based Emaar to separate from Indian partner MGF, ending decade-old joint venture
The Dubai real estate developer entered India 10 years ago with an investment of more than Rs 7,500 crore in joint venture Emaar MGF Land Ltd.
India is a key market, committed to success of projects: Emaar
Dubai's Emaar Properties said on Thursday it was committed to its projects in India through its joint venture Emaar MGF Land.
Emaar Properties, MGF close to ending decade-old alliance
Dubai-based Emaar Properties PJSC and Indian partner MGF Developments are close to ending their decade-old joint venture.
Emaar MGF partners PayU for online payment facility to buyers
PayUMoney would help customers to pay anytime and any amount with no restrictions of NEFT or RTGS, it added.
Corp Affairs Min finds Emaar MGF violating companies law
A leading realty player, Emaar MGF Land Ltd is a JV between Emaar Properties PJSC and MGF Development Ltd. The entity is registered with RoC.
EmaarMGF to build 200 villas of Rs 4.5 to 8.5 cr in G'gaon
Emaar MGF on Thursday said it would develop 200 luxury villas in Gurgaon, which would generate a revenue of at least Rs 900 crore to the company.
Emaar MGF IPO likely to be delayed
The proposed IPO from Emaar MGF Land, a JV between Emaar Properties PJSC and MGF Development of India, may be delayed following the Dubai government’s announcement that it would restructure the debt of its crown jewel, Dubai World.
Emaar MGF says no impact of Dubai crisis
Ahead of its upcoming initial public offer to mop up about Rs 4,000 crore, realty firm Emaar MGF on Friday said it would not be impacted by Dubai's debt repayment crisis, which has led to a rating downgrade for its Middle-East promoter.
Emaar to try IPO route again
Emaar MGF has taken the first step towards return to the stock markets by opening talks with an investment banker, apparently enthused by the success of its peers in raising cash by privately placing shares to institutional investors, two persons with knowledge of the development said.
Emaar MGF to invest Rs 1,300 cr for three hotels in Kolkata
Riding on the boom in hospitality industry here, real estate developer Emaar MGF Ltd on Saturday announced setting up of three new star hotels in Kolkata at an investment of Rs 1,300 crore.
Emaar MGF to invest Rs 15,000 cr in hospitality foray
Emaar MGF, currently in the process of raising up to Rs 6,457 crore through an IPO, is planning an investment of Rs 15,000 crore for its pan-India foray in the hospitality segment.
Emaar buys 1.36% more in Indian JV for Rs 922 crore
The Dubai based Emaar group has purchased an additional 1.36% in its Indian joint venture Emaar MGF Land for Rs 922 crore, ahead of the initial public offer, which is scheduled to open on February 1
Emaar MGF cuts IPO price band to Rs 540-630 per share
Real estate firm Emaar MGF, which is entering the capital market on Friday with an Initial Public Offer, today reduced the price band to Rs 540-630 per share, a move aimed at attracting more investors to its issue.
Emaar MGF to open hotels chain with Global Hyatt
Real estate and hospitality company Emaar MGF has agreed to enter into a joint venture with Global Hyatt Corporation of the US to set up a chain of business hotels in India under the brand name Hyatt Place.
Emaar MGF enters Chennai residential mart
Emaar MGF, a joint venture of Emaar Properties of Dubai and MGF Development in Delhi, has entered the Chennai residential market by launching a 536-apartment project ‘Chennai Esplanade’ in north Chennai.
Emaar MGF files for IPO with SEBI
Market sources said the company is planning to raise upto Rs 4000 crore through the IPO.
Emmar-MGF bags CG village project
Emmar MGF bagged the contract for building the Commonwealth Games village for Rs 321 cr.
Emmar-MGF bags CG village project
Emmar MGF bagged the contract for building the Commonwealth Games village for Rs 321 cr.
Emaar MGF forms construction JV with Leighton
Real estate developer Emaar MGF on Monday announced its tie up with Australia's Leighton Group to set up a joint venture construction company with an initial investment of up to 150 million dollars.
Emaar MGF forays into healthcare biz
Real estate developer Emaar MGF Land is planning to enter the healthcare and education sector in the country with a chain of 50 hospitals and 100 schools and universities over the next seven years.
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