The Blogging of Overby 865

badgeiris2's blog

Information Associated With Shravan Gupta

The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are attempting to tighten the noose round actual beneficiaries” of the 70 million euro bribe paid in AgustaWestland rip-off, officers aware of the event mentioned. According to ED, which has already filed half a dozen chargesheets in the case, total 12 per cent kickbacks - around Euro 70 millions, was by the Anglo-Italian firm - AgustaWestland through two sets of middlemen - Christian Michel James and Guido Ralph Haschke - for further payments in India to influence the Rs 3,727 crore 12 helicopter VVIP chopper deal.
A court on Thursday turned down the Central Bureau of Investigation's request to send Shravan Gupta, Managing Director of Emaar MGF, to jail and instead kept in abeyance the non-bailable warrant (NBW) pending against him for non-appearance in Emaar township scam till August 28.

Shravan Gupta Arrest Warrant Hyderabad from Shravan Gupta on Vimeo.

Gupta was summoned and questioned by the ED in 2016 after his named cropped up during investigation.According to ED officials, it was found that alleged middleman Guido Haschke was an independent director of Gupta''s firm between September and December 2009.
Shravan Gupta India's MGF journey in the business world began as he joined his family business, MGF ltd. The officials searched for evidence of money laundering in the Rs 3,727 crore scam. It can be safely said that Mr Shravan Gupta has played a vital role in making malls accessible to the common man of this country.

Shravan Gupta, a promoter of the real estate firm MGF Developments, is known for bringing some of the largest foreign direct investments (FDI) in India through the joint venture with Dubai-based Emaar. The new board members appointed by the company are nominees of Emaar, the spokesperson said.
Other than the mall, Shravan Gupta MGF Group has been at the forefront of the real estate development in India. This led him to decide to diversify the company into the real estate sector as well. Reach out directly with real-time validated email and phone numbers, and take it to the next step by creating personal and reusable email templates that integrate with your existing email provider.
Emaar Properties, which entered India in 2005 with largest FDI in the realty sector, has invested about Rs 8,500 crore in Indian real estate market through its JV firm. In April, Emaar Properties and MGF Developments had decided to end their 11-year-old joint venture through reorganisation and demerger of their India business.

The kickbacks were then allegedly routed through Rajiv Gupta-owned Mauritius-based company Interstellar Technologies. In 2012, the CBI started probing DDA's Rs 728.89 crore bailout package to the realty major. Earlier, in a separate case pertaining to forex exchange violation, ED had seized Gupta's assets worth Rs 10.28 crore in 2018 for allegedly holding undisclosed deposits in a Swiss bank account.
Despite all the success in the world of real estate development, Mr Shravan Gupta has remained grounded. The money, ED has said, was quid pro quo to make the company eligible for the contract of AW-101 helicopters in 2010. Shravan Gupta, who's already being investigated in different instances by the monetary probe company, in keeping with a high authorities official, illegally acquired the cash within the AgustaWestland deal”.

Go Back


Blog Search


There are currently no blog comments.