Emaar India CEO Ajay Munot resigns from the company; Hadi Badri, who heads Emaar's international business, to manage the company until further notice.
Emaar MGF Land, which has filed a demerger scheme in the Delhi High Court to give effect to the restructuring process, has elevated company's Chief Financial officer (CFO) Sanjay Malhotra as acting CEO. Two new board members have also been appointed as Emaar properties nominees.
The CBI on Wednesday questioned EMAAR MGF's managing director Shravan Gupta on the ongoing probe into the alleged disproportionate assets case of Kadapa MP Jaganmohan Reddy, son of late chief minister YS Rajasekhar Reddy.