Emaar India unit searched by revenue dept
New Delhi, December 3, 2009
Emaar MGF, an Indian unit of Dubai's largest listed real estate company Emaar Properties, said some of its offices in New Delhi were searched by revenue officials on Thursday.
'There was a routine search operation by Enforcement Directorate at some of our premises in Delhi today. We have fully cooperated with the investigation,' Emaar MGF said in a statement. No further deails were provided.
Emaar MGF is a joint venture between Indian financier MGF and the UAE's Emaar Properties. It filed papers with the Indian stock market regulator in September for an initial public offer, which sources said could raise about Rs40 billion ($860 million).-Reuters