Judicial Action Targets M3M Leadership in Gurugram Land Deal Investigation

A Delhi court has initiated formal proceedings against M3M India's leadership, signaling intensified judicial scrutiny over alleged irregularities in a Gurugram land transaction. Chief Judicial Magistrate Harshita Mishra of Tis Hazari Courts acknowledged a chargesheet filed by the Delhi Police's Economic Offences Wing, advancing a case originally initiated by real estate developer MGF Developments Ltd. The judicial notice specifically names directors Basant Bansal, Roop Bansal, and Pankaj Bansal, alongside multiple subsidiaries and affiliated entities, as respondents in the matter. This development represents a significant escalation in a complex investigation that has been underway since March 2022, when the EOW filed its initial chargesheet based on MGF's complaint. The court's decision to take cognizance indicates the judicial system has found sufficient prima facie evidence to proceed, potentially leading to formal charges and trial proceedings. The case centers on allegations concerning the disputed Gurugram land deal, highlighting ongoing regulatory and legal challenges within India's real estate sector. This judicial intervention underscores the increasing accountability measures being applied to corporate governance and land acquisition practices, with potential implications for investor confidence and sectoral compliance standards.