Emaar MGF says has no business links with Rahul Gandhi’s aide Kanishka SIngh

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Published: May 3, 2016 10:03:01 PM

Seeking to distance itself from the AgustaWestland row, realty firm Emaar MGF today said it has no "business links" with Rahul Gandhi's aide Kanishka Singh while Guido Hashke -- alleged middleman in the controversial chopper deal -- was an independent director for an "extremely brief period".

Seeking to distance itself from the AgustaWestland row, realty firm Emaar MGF today said it has no “business links” with Rahul Gandhi’s aide Kanishka Singh while Guido Hashke — alleged middleman in the controversial chopper deal — was an independent director for an “extremely brief period”.

As BJP MP Kirit Somaiya dragged Singh’s name into the controversy involving alleged kickbacks paid for the VVIP chopper deal, Emaar MGF termed the allegations as “baseless and incorrect.”

Emaar MGF, whose name has earlier cropped up in some other controversies as well including about the Commonwealth Games, is a joint venture between Dubai-based Emaar Properties and India’s MGF Developments Ltd.

“We would further like to state that Mr Kanishka Singh has never had any direct or indirect business interest, including as a shareholder and/or promoter and/or Director, in Emaar MGF,” the company said.

Clarifying on allegations that Singh’ being related to the family of Indian promoter in the Emaar MGF, the company said, “the Indian promoter of Emaar MFG in 2007 had already separated from their earlier family businesses and have no linkages to the same thereafter.”

On the company’s association with Guido R Hashke, Emaar MGF said that Hashke was an independent non-executive director for an extremely brief period of two months and twelve days only i.e. from September 25 to December 7 in 2009.

“Emaar MGF has had no other association with him or any of his businesses/associates,” the statement added.

Hashke was appointed on the company’s board, alongwith other Independent Directors, due to the statutory requirement of having equal number of independent directors on the Board (in our case 6) to be eligible for a public listing.

Justifying appointment of Hashke on its board, Emaar MGF said that Hashke was a registered consultant to the World Bank for Asset Trading and Debt Restructuring and was appointed considering his experience with international financial sector.

“It may be pertinent to point out that he did not attend any Board meeting during his tenure of his appointment. The company or its associates have had no business or monetary dealings with Mr Guido Haschke in any manner at any time in the past or present except his brief appointment as independent director as stated above,” the statement said.

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