The ED - Enforcement Directorate has seized 401.65479 acres of immovable property worth Rs. EMAAR India Ltd. and MGF Developments Ltd., according to the agency.
The assets of EMAAR India Ltd and MGF Developments Ltd, two of these attached properties, are worth approximately 501.13 crore and 332.69 crore, respectively. The land-based properties in Delhi and 20 villages in the Gurugram district of Haryana were attached by ED's Delhi-based unit.
According to the ED, EMAAR India Ltd. and MGF Developments Ltd. are both under investigation for money laundering in connection with license no. 97/2010, which was obtained from the Department of Town and Country Planning (DTCP) on September 18, 2010, for a Residential Plotted Colony in Sector-65 and 66 of Gurgaon.
This license was for a residential plotted colony. On the basis of an FIR filed by the Central Bureau of Investigation (CBI) against Bhupin der Singh Hooda, the then-Chief Minister of Haryana, Trilok Chand Gupta, the then-Director of DTCP, EMAAR MGF Land Limited, and 14 other colonizer companies under various sections of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988, the ED started the investigation.
The case includes deceiving different landowners, people in general at large, and the territory of Haryana and HUDA, by getting given warning under segment 4 of the Land Obtaining Act, 1894 (LA Act) and in this manner under area 6 of LA Represent the securing of grounds of particular landowners which constrained landowners to offer their property to said colonizer organizations at a lower cost than the overall cost before the notice under segment 4 of LA Act.
According to the ED, the accused also obtained the Letter of Intents (LOIs) and licenses for the notified land in a dishonest and fraudulent manner, harming the landowners, the general public, the state of Haryana, and HUDA while wrongfully gaining for themselves. According to ED, on June 2, 2009, the Haryana government issued a notification for 1417.07 acres of land in sectors 58-63 and 65-67 of Gurugram in accordance with section 4 of the Land Acquisition Act 1894. On May 31, 2010, approximately 850.10 acres out of 1417.07 acres of land were subject to notification under Section 6. As a result, from June 2, 2009 to May 31, 2010, the Haryana government granted LOIs and licenses on nearly 600 acres of land that had been subject to acquisition proceedings.
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