CHANDIGARH: In a blow to real estate giant Emaar India Ltd, Punjab and Haryana HC has refused to quash an FIR involving allegations of cheating, fraud and criminal conspiracy against the company.
Justice Mandeep Pannu passed the orders while dismissing a petition filed by Emaar India, seeking quashing of a Gurgaon additional chief judicial magistrate order to register an FIR against the company and its officials.
The case stems from a complaint filed by Synergy Finhub LLP, which accused Emaar India and some of its officials of a “well-orchestrated” deception. At the heart of the dispute is the claim that Emaar India deliberately suppressed the existence of prior binding agreements with third parties over the same project land.
Emaar India subsidiaries had allegedly entered into collaboration deals with Tejas Home Build Pvt Ltd in 2013 and Nanny Infrastructure Pvt Ltd as early as 2010. These pre-existing arrangements were allegedly not disclosed to Synergy Finhub at the time of signing their JDA. The complainant alleged they were forced into a Rs 1 crore settlement with Tejas Home Build to resolve third-party claims.
On March 10, the Gurgaon court ordered an FIR, despite a police action taken report suggesting the matter was purely civil. Emaar India challenged the order, arguing the magistrate had ignored police’s conclusion that no cognisable offence was made out. The defence contended the dispute was a contractual disagreement already subject to arbitration.
HC said the Gurgaon court order did not suffer from illegality or perversity, the allegations disclosed a prima facie case requiring investigation and the grounds raised by the petitioner did not fall within the limited parameters for quashing of FIR.
