Welcome Visitor! Login | Sign Up | Help!

Refer a Friend

|

Follow us on:

Advanced

More

Home » News & Updates » 4 Feb 2012 « Back to News

IIT, IIM brains to the fore in Emaar scam

4

Feb'12
4 Feb 2012 11:17:09 IST , Deccan Chronicle
0 people liked this

0

226

View Post

IIT, IIM brains to the fore in Emaar scam

Engineering Entrance , MBA

The Central Bureau of Investigation probing the Emaar scam has netted alumni of some of the top business schools in the country.

Those arrested and chargesheeted by the CBI include top executives of Emaar MGF who hold degrees from IIT-Delhi, IIM-Ahmedabad and Shri Ram College of Commerce, Delhi.

A senior police official said, “It’s not only IAS officials and businessmen, but also top executives, who are products of prominent business and technology institutes, who are also involved in these scams that involve economic fraud of this magnitude.”

Those named as accused by the CBI in the multi-crore Emaar-APIIC township scam so far are Emaar MGF CEO Srikanth Joshi, an alumnus of IIT-D and IIM-A, G.V. Vijay Ragha-van, a chartered accountant, and Shravan Gupta, an alumnus of the prestigious SRCC.

They are accused of cheating the state government and APIIC by conspiring with others in the sale of villa plots. Joshi did his B.Tech from IIT-Delhi in 1976-1981 and has a postgraduate diploma in business administration from IIM-Ahmedabad (1981-83).

The CBI chargesheet against him alleges that he was involved in several transactions where land was transferred to Emaar MGF from Boulder Hills Leisure Private Limited. He and Vijay Raghavan, finance head of Emaar MGF, were actively involved in selling the villa plots to buyers between 2008 and 2010 on behalf of Emaar MGF.

Joshi is chief executive of L&T Realty in Mumbai. He was formerly CEO of Emaar MGF (2006-08), CEO of MIC Electronics Ltd, and CEO (South) of Emaar MGF (2009-2011).


Share this notification on:

Quick Reply


Reply
Some HTML allowed.
Keep your comments above the belt or risk having them deleted.
Signup for a avatar to have your pictures show up by your comment
If Members see a thread that violates the Posting Rules, bring it to the attention of the Moderator Team
Free Sign Up!

Preparing for IIT-JEE ?

Arihant Revision Package for IIT JEE - Books, Practice Tests + Rank Predictor


@ INR 1,995/-

For Quick Info

Name

Mobile No.

Event Calendar

Sponsored Ads

Related News

Find more notifications >>

35,229,755
Engineering Questions Attempted		 6,69,530
Visitors Monthly		 79
Engg. Exam Covered		 2335
Students Currently Online		 Connect with Us

How can we improve this site for you?


Vriti Communities
Privacy Policy © Vriti 2011