New Delhi: The Economic Offences Unit of Delhi Police has registered a case of fraud against M3M India Private Limited Company. The Rs 450 crore fraud case has been lodged against M3M India Private Limited based on a complaint filed by another company MGF Development Limited. M3M India has also filed a counter case of forgery against MGF Development Limited.
The Economic Offence Unit of Delhi Police said that a probe into the matter has begun. On the other hand, an official from MGF Development Limited said, the accused company grabbed 31.06 acres of land in Gurugram, giving false promises to us. They took possession of the land illegally. Hence, we suffered a loss of Rs 450 crore. "For the first time, in 2016, officials from M3M Company had a meeting with senior officials from our company at Hotel Leela, in which they gave us a post-dated cheque for the land. We also knocked at the doors of the court and also sought police's help in the matter in 2018," he said.
In the complaint, it was also stated that M3M India for starting the residential project on the said land parcel had applied for a license in 2021. The allegation is that M3M India after grabbing the said land plot illegally and also without paying the money to MGF Development Limited, obtained a license for starting the residential project based on 'doctored documents'. Hence, the MGF Development Limited had suffered a loss of Rs 450 core.
Besides, M3M India had also filed a Rs 88 crore cheating case against MGF at a police station in Gurugram. In the complaint, M3M alleged that in 2016 both the companies had struck a deal for starting the residential projects. But, later on, MGF on the basis of 'doctored documents' sold the land parcel to another company.
