New Delhi: A Zee News probe claims major flaws in a big Gurugram land deal with the M3M Group. It questions court rules, auction steps, and middleman firms.
The case ties to 9.26 acres in Sector 62 on Golf Course Extension Road. This spot ranks high in Delhi NCR real estate. Papers show Zee News the land hit Rs 534 crore value ten years back. Yet M3M got it for about Rs 300 crore. That fell short of its worth then.
In 2018, Delhi High Court blocked any sale or auction. Still, the probe says the land sold at auction. It broke the court’s ban.
Zee News notes the sale price lagged Rs 234 crore behind estimates. The buyer linked to the bank group that ran the auction. The channel calls it a front firm. One set up and backed to clinch the deal.
Papers track money moves across firms. One lent cash. Another took it. A third grabbed the land. All point to a team-up for a cheap buy.
A top lawyer told Zee News the deal ignored court orders. It twisted insolvency rules too. Banks and watchdogs got fooled.
The land’s worth jumped since. Now it nears Rs 900 crore. Zee News cites nearby spots like DLF Camellias. Penthouses there fetch Rs 100 crore each. Location matters big.
M3M has not replied to claims. Zee News waits for word. It pushes on with “Operation Real Loot.” More docs and records will come.
This spotlights weak checks in prime land sales. Court orders often slip in fast-growth spots like Gurugram.