Creative Accounting

Indian Real Estate Companies have the worst reputation amongst the different sectors in India.Corruption,Irregularities,Creative Accounting,Defrauding Consumers,Tax Raids are common to these companies.In fact the financial statements of the Realty Sector are considered so untrustworthy that some Fund Mangers are loath to invest in the whole sector.Despite a Stock Market Bull Run,a line of Realty Companies have not still managed to raise money from the primary markets because of the distrust with which the general public regards them.A Truly Dubious Achievement for the Real Estate Sector in India.Note both small developers and big developers have been involved in scams and shenanigans.2 Real Estate Companies in the National Capital Region Oreo and Emaar MGF,two of the better known Realty Companies have come under the focus of Indian Investigative agencies.Emaar MGF has been trying to do an IPO for a long time without success.Now it has come under the scanner for irregularities for construction of the Commonwealth Games Village.