Delhi Court Upholds Cheating Case Against M3M Promoters

A Delhi court has affirmed criminal proceedings against M3M India Pvt Ltd and its promoters concerning charges of cheating and criminal conspiracy. This decision stems from an alleged ₹450 crore land fraud involving a disputed land exchange deal in Gurugram. Principal District and Sessions Judge Anju Bajaj Chandna dismissed revision petitions challenging the trial court's cognizance of offences related to cheating. However, the court set aside the cognizance for criminal breach of trust, finding insufficient grounds.

The case originates from a complaint by MGF Developments Ltd, alleging that M3M obtained rights over 31 acres of land in Gurugram without complete payment. The transaction, finalised in November 2016, involved an exchange for land in Sohna and a payment of ₹114 crore. MGF claims M3M made false assurances to secure the land transfer, despite issuing cheques that were later returned unpaid.

Accused parties argued the dispute was civil, but the court stated these arguments are for the magistrate to consider later. The accused are required to appear before the chief judicial magistrate on October 27. Meanwhile, several civil proceedings related to the land transaction are also ongoing between the parties involved.