Shriram Properties Responds to Alleged Bribery Case

Shriram Properties Ltd has stated that there is no evidence implicating its former joint venture company in an alleged bribery case involving a former Tamil Nadu minister. The company is addressing the matter legally and maintains that it has always adhered to fair practices and compliance regulations.

Shriram Properties Ltd has firmly denied any involvement in an alleged bribery case connected to a former Tamil Nadu minister. The Bengaluru-based real estate giant emphasized that neither the company nor its former joint venture partner, Shriram Properties and Infrastructure Pvt Ltd, is implicated in the allegations.

The issue surfaced after media reports revealed that an FIR has been filed against the former Minister of Tamil Nadu and his family members concerning a Rs 27.90 crore payment supposedly made by Shriram Properties and Infrastructure Pvt Ltd in 2016 to secure planning permissions for a project.

In a recent statement, Shriram Properties Ltd stressed their commitment to compliance and fair practices, stating that they are taking legal steps in line with advice received from counsels to address the matter transparently and in accordance with good governance principles.

(With inputs from agencies.)