GURUGRAM: Following a probe by Economic Offences Wing (EOW), former Managing Director of Dubai-based realty firm Emaar has been booked by Gurugram Police. A case has been registered against his wife Shilpa and five others.
In July 2020, the company had filed a complaint with the Gurugram Police Commissioner following which an investigation was carried out by the EOW and a case was registered at the DLF Phase-1 police station.
According to the FIR, Shravan Gupta is accused of causing a loss of about Rs 182.48 crore to the company through illegal land deals based on fake documents.
Emaar had stepped into the Indian real estate sector in 2005 through Foreign Direct Investment (FDI) and bought land worth crores in Gurugram and other cities and launched several projects.
Emaar-MGF was working together at the time and Gupta was the MD. He is alleged to have sold around 10 acres of land near village Ghata in Sector-61 Gurugram for just Rs 3.18 crore while it was valued at Rs 182.48 crore after a change in the land use pattern. According to the complaint, the land was sold from Emaar-MGF to Kayo Developers.
It is alleged that during this time, Gupta had also given fake documents to the DTCP department.
In the FIR, Emaar has alleged that Gupta had also transferred a huge sum of money from Emaar India to six bank accounts in Switzerland.
Emaar-MGF separated in the year 2016. In 2019, this fraud came to the fore before the Emaar.
An attempt was made to contact MGF official to know his side but could not be reached.
"In connection with the matter, a case has been registered. The facts of the matter and the documents are being verified by police. The matter is being investigated on the complaint of the company, " said Preet Pal Sangwan, ACP (crime).