Emaar MGF Scam Debunked by CBI Emaar Investigation
Emaar MGF Scam Debunked by CBI Emaar Investigations by Ankit Dua Emaar MGF Scam Debunked by CBI Emaar Investigations byArticle Posted: 05/01/2013Article Views: 16
Articles Written: 19 Word Count: 600 Article Votes: 0 Emaar MGF Scam Debunked by CBI Emaar InvestigationsCBI Emaar jointly investigated the allegations of undervaluation of land in a Hyderabad project which came to be known as Emaar MGF scam in the popular media and found that how vulnerable foreign players are when the local parties with vested interest try to smudge their reputation to earn a fast buck. The initial hype created by the media somehow made people believe that a company as big as Emaar can also fall for the lucrative offers by corrupt officials but soon enough the truth started trickling out that Emaar had no role to play in the alleged Emaar MGF Scam as is being revealed by the joint enquiry of CBI Emaar. In the capital city of Andhra Pradesh, APIIC or the Andhra Pradesh Industrial Infrastructure Corporation was tasked to construct a luxury township in Hyderabad. As the APIIC or the Andhra Pradesh Industrial Infrastructure Corporation was not equipped to handle such a grand project, it roped in the real estate giant Emaar, along with its local partner MGF, to construct the luxury township. In order to make a quick buck, it appears that some of the stakeholders in the projects decided to undervalue the land to dilute public share in the project and give advantage to the buyers of the homes for a commission or a fee. The role of Emaar was limited to constructing the township and thus had no inkling that something wrong may be happening behind its back and soon found itself in the middle of the controversy without even the slightest idea what was being conspired against it.Having said that, Emaar is not one of the companies which would buckle under the pressure and the real estate firm showed real courage by standing up and fighting for its innocence. In a strange and a first ever move in India, the real estate firm decided to give its complete and unconditional support to the agencies investigating the matter and thus the CBI Emaar joint investigations began in the alleged Emaar MGF scam. With results of the investigations giving a clean chit to Emaar MGF, the real estate firm has buried the ghosts of the entire controversy and is moving ahead full stream towards its goal of becoming India's biggest and the most renowned and respected real estate firm. As the world knows, Emaar has a reputation of being a completely transparent company and it could not let anyone take it away from it. Once it got its name cleared from any kind of wrongdoings, Emaar started focusing on its other projects in India.As of date, Emaar has either completed or is in the process of constructing multiple real estate projects spread throughout India. From the capital city of New Delhi to the states of Punjab, Haryana, Kerala, Tamilnadu, West Bengal and Andhra Pradesh, Emaar has its presence throughout India. One after another, Emaar is giving shape to some of the most inspiring skylines in major cities of India. The reputed Commonwealth games village in New Delhi is a fine example of the real estate firm's efficient and world class architectural capabilities. Emaar MGF is already one of India's most reputed real estate firms and in spite of the alleged Emaar MGF Scam which the company debunked in a CBI Emaar joint investigation, it headed to take its place as the India's biggest and the finest real estate player. The author loves to write small and informative articles on topics related to Real Estate and Travel. In this article he is expressing his thoughts regarding a that took place in Hyderabad.
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