Hyderabad: In a fresh attempt to resolve various cases over alleged irregularities pertaining to Emaar Properties going on for decades, chief minister A Revanth Reddy on Thursday directed officials to constitute a legal experts committee to look into the pending issues after a meeting with the management of the Dubai-based firm. The CM also accepted the company’s proposal to set up a legal agency with the approval of the United Arab Emirates (UAE) govt to find an amicable solution.
Emaar founder and MD Mohammed Alabbar, former UAE ambassador to India Dr Ahmed Al Banna, Emaar Group CEO Amit Jain and company’s international affairs head Mustafa Akram met the CM and industries minister D Sridhar Babu at the secretariat.
The CM instructed officials to examine thoroughly the Emaar agreement documents, details of court cases and instructions given by the central govt.
Emaar Properties had entered into an agreement with the then govt of United AP in 2001 to invest in projects such as construction of a convention centre, hotel, golf course, villas, and other projects in Hyderabad. Subsequently, the project got mired in legal troubles following CBI and ED registering cases for alleged irregularities in agreements entered by the company with APIIC.
Investigation in the cases and hearing in the courts are still going on.
