[1]The Union urban development ministry has decided to confiscate the `183-crore bank guarantee of the private developer of the Commonwealth Games Village (CGV), Emaar-MGF. Also, all possible legal action would be taken against it.
The urban development ministry had sought an interim report from the DDA, which had awarded the work to Emaar. The DDA in its report had said several deficiencies and irregularities had been detected in the construction of the CGV.
Sources in the ministry said confiscation of the bank guarantee was the strongest action possible in the circumstances. Legal action to ensure recovery of dues over and above the bank guarantee would also be taken. The sources added that although black-listing the firm could be an option, it was necessary to ensure that it was made accountable for its lapses immediately.
In fact, an empowered technical and audit committee has been appointed to examine the works executed by the private developer. Highly placed sources, however, said it was felt there was a need to take immediate action and, hence, it was decided to not wait till the final report of the committee was received.
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