Dubai based Emaar Properties PJSC, Dubai (Emaar) has a joint venture with MGF Developments Ltd, Delhi (MGF) since December 2004. The joint venture entity is called as Emaar MGF Land Ltd (EML). In May 2016, EML filed its first motion for demerger with Delhi High Court. In August 2016, it filed the second motion with Delhi High Court, and the same stands transferred in January 2017 to National Company Law Tribunal (NCLT). But in December 2016, it withdrew the first motion telling the court that it seeks “to institute an appropriate application”. The process is still going on.
