Real estate fraud case: Emaar officials appear before Delhi Police's EOW

Senior officials of realty company Emaar India Limited appeared before the Delhi Police's Economic Offence Wing (EOW) on Friday in an alleged real estate fraud case following summons, sources said.

"Officials representing Emaar met with EOW officials and shared the information sought. They assured extending all help with the investigation," a source in the EOW said.

The EOW had issued notices for the personal appearances of Dubai-based Emaar Properties managing director Mohamed Ali Alabbar. His representatives appeared on his behalf which the EOW found satisfactory, the sources said.

Emaar India Limited is the Indian subsidiary of Emaar Properties of Dubai.

On May 26, the EOW had issued summons to Alabbar and senior officials of Emaar India Limited for their personal appearance on June 2 at 2:30 pm in the alleged fraud case in its housing project Palm Garden in Gurugram.

The EoW initiated investigation into the case after a homebuyer Manish Kumar Patni lodged a complaint on January 30 last year.

Patni alleged that Emaar India Limited, earlier known as Emaar MGF Land Limited, committed forgery and criminal breach of trust, among other offences, in selling apartments to buyers in their Palm Gardens project, according to the FIR in the case.

The project was launched in 2010 and the company had promised to deliver housing units to buyers by September-December of 2015, according to the FIR.

Patni has alleged that the company took money from buyers and diverted it for other purposes, leading to an inordinate delay in the completion of the project.

He has also alleged that the company misrepresented the layout plan and did not have requisite permissions and approvals from authorities at the time of selling apartments, the FIR stated.

In his complaint, Patni has named some banks and financial institutions which, according to him, were hand in glove with the real estate company.

When PTI had reached out to an Emaar India representative regarding the notice, its spokesperson had said the matter pertained to a civil case filed by few homebuyers against banks from whom they had availed loans for properties worth around Rs 1 crore. Emaar officials have been made a party to the matter, the spokesperson had said.

"The dispute is primarily of civil nature, and is sub-judice. We are following the due process of law, and extending our full support and cooperation for fair and just investigation in the matter," the spokesperson had said.