Hyderabad: Emaar Properties, a Dubai-based real estate firm, has urged the Telangana government to resolve long-pending legal disputes related to various projects. Representatives from Emaar met with Chief Minister A. Revanth Reddy and Industries Minister Duddilla Sridhar Babu at the Secretariat, seeking a resolution to the ongoing issues.
Background of Emaar’s Investment in Hyderabad
In 2001, during the erstwhile united Andhra Pradesh, Emaar Properties signed agreements with the government to invest in multiple projects, including a convention centre, hotel, golf course, and villa developments in Hyderabad. However, allegations of irregularities in agreements with the then Andhra Pradesh Industrial Infrastructure Corporation (APIIC) led to investigations by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED). The cases remain under judicial scrutiny.
Efforts to Address Disputes
Following the formation of Telangana, the state government in October 2015 constituted a five-member committee led by the Chief Secretary to address Emaar-related disputes. Additionally, the Ministry of External Affairs and the Solicitor General of India provided recommendations on the matter.
During the latest discussions, officials presented a detailed report to the Chief Minister, covering the status of investigations, charge sheets, legal aspects, and central government recommendations. Revanth Reddy directed officials to conduct a thorough review of Emaar’s agreements, court case details, and legal documents.
Formation of a Legal Expert Committee
To expedite the resolution, the Chief Minister proposed the formation of an additional committee comprising legal experts, supplementing the existing 2015 panel. He also approved Emaar’s proposal to appoint a legal agency, with UAE government consent, to study legal disputes and facilitate an amicable resolution. The state government’s committee will coordinate with Emaar representatives for further deliberations and recommendations.
Key Participants in the Meeting
The meeting was attended by Emaar Properties’ founder and Managing Director, Mohammed Ali Rashid Alabbar, former UAE Ambassador to India Dr Ahmad Al Banna, Emaar Group CEO Amit Jain, and Head of International Affairs Mustafa Akram.
On the government’s side, Chief Secretary Shanti Kumari, Advocate General Sudarshan Reddy, Principal Secretary of Industries Jayesh Ranjan, and Principal Secretary of Finance Ramakrishna Rao, along with other senior officials, participated in the discussions.
With both parties keen on resolving the disputes, the Telangana government is expected to take the next steps in reviewing legal aspects and exploring a feasible resolution framework.
