Emaar-MGF Under Scanner By ED, CWG Allegations

Emaar MGF, the private developer of Commonwealth Games Village, on Wednesday denied that the Delhi Development Authority (DDA) had confiscated its bank guarantee worth Rs 183 crore.

The company also denied allegations of having outstanding dues to civic agencies like the water utility Delhi Jal Board (DJB) and the electricity utility BSES.

According to the company, the DDA purchased 333 apartments in the village at a much lower price as compared to the market price and that the company was yet to receive the full payment.

"We are yet to receive the full payment of the same. Additionally, we had also offered the DDA an option to buy back the apartments sold to them," the statement added.

Earlier sources in the urban development ministry said the company's bank guarantee worth Rs 183 crore was being confiscated, a day after the DDA came out with findings of irregularities by the builder in the construction.

The sources said that the DDA may take legal action against the company.

The 1,168 flats in the village were constructed at a cost of over Rs 1,000 crore and the project was delayed. The work to maintain cleanliness in the village continued even after athletes and delegates started arriving for the Games, a DDA report said.

BY HT