Hyderabad (Telangana) [India], February 27 : Dubai-based Emaar Properties officials approached the Telangana Government on Thursday to discuss resolving disputes over the company's pending projects in various cases, according to a release.
Telangana Chief Minister A Revanth Reddy and Industries Minister Sridhar Babu met with Emaar representatives at the Secretariat today.
Emaar Founder and Managing Director Mohammed Alabbar, former UAE Ambassador to India Dr Ahmed Al Banna, Emaar Group CEO Amit Jain, and the company's International Affairs Head Mustafa Akram participated in the meeting. Government Chief Secretary Santhi Kumari, Advocate General Sudarshan Reddy, Special Chief Secretary to Industries Department Jayesh Ranjan, Special Chief Secretary to Finance Ramakrishna Rao, CMO Secretary Seshadri, Special Secretary to the CM Ajith Reddy, TGIIC MD Vishnuvardhan Reddy, and Law Secretary Tirupati were also present.
The Emaar Properties entered into agreements in 2001 with the then state government to invest in projects such as the construction of a Convention Center, Hotel, Golf Course, Villas and other projects in Hyderabad in the erstwhile united Andhra Pradesh.
During that period, CBI and ED registered cases in the alleged irregularities in the agreements entered by the Company with the APIIC. Investigations into the cases and hearings in the courts are still going on.
After the formation of Telangana state, the previous BRS government constituted a five-member secretary-level Committee headed by the Chief Secretary to resolve the disputes related to the projects taken up by Emaar Properties in October 2015.
The Ministry of External Affairs and the Solicitor General of India also made several suggestions to the state government on this matter.
The release added that the officials briefed the Chief Minister on all these issues during the meeting with Emaar representatives.
Since the cases probed by the investigating agencies and charge sheets are related to legal issues, CM Revanth Reddy instructed the officials to thoroughly examine the Emaar agreement documents, details of the court cases, and instructions given by the Central Government.
The release added that the Chief Minister also ordered the constitution of a Committee comprising Legal Experts in addition to the committee formed by the previous government under the chairmanship of the Chief Secretary in 2015 to resolve the Emaar Properties matter.
The Chief Minister also accepted the Company's proposal to set up a legal agency with the approval of the UAE government to study legal disputes and find an amicable solution. The CM said that the government committee would consult with them and give further suggestions and advice.
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