Emaar Properties approaches Telangana government on pending projects
Revanth Reddy agrees to set up legal agency to study disputes pertaining to the UAE-based company
HYDERABAD: Chief Minister A Revanth Reddy has directed officials to constitute a committee comprising legal experts in addition to the committee formed by the previous government under the chairmanship of Chief Secretary in 2015 to resolve the issues pertaining to the UAE-based Emaar Properties.
The Chief Minister along with Industries Minister D Sridhar Babu held a meeting with Emaar Properties representatives at the Secretariat here on Thursday.
The Emaar Properties management approached the State government and discussed the company’s pending projects in various cases. During the meeting, the Chief Minister also accepted the company’s proposal to set up a legal agency with the approval of the UAE government to study the legal disputes and come up with an amicable solution. The CM also said that the committee formed by the government would consult with them and give further suggestions and advice.
In 2001, the Emaar Properties entered into an agreement with the then State government to invest in projects such as construction of a convention centre, hotel, golf course, villas and other projects in Hyderabad. During the period, CBI and ED registered cases in the alleged irregularities in the agreements entered by the Company with the then APIIC. Investigation in the cases and hearings in courts are still under progress.
After the formation of Telangana, the previous BRS government in October 2015 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.
The Ministry of External Affairs and the Solicitor General of India had also made several suggestions to the State government in this matter.
