8 months ago
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The Central Bureau of Investigation (CBI) has registered six cases and is conducting searches astatine 12 locations, successful a large crackdown connected builders allegedly progressive successful cheating thousands of homebuyers successful Kolkata, Bengaluru, and Mumbai. The bureau is besides probing the nexus of builders with officials of fiscal institutions.
The cases person been registered pursuing a Supreme Court directive.
The builders person been identified arsenic Bengaluru-based Ithaca Estate Private Limited, LGCL Urban Homes (India) LLP, and Ozone Urbana Infra Developers Pvt. Ltd.; Mumbai-based Shashwati Realty Pvt. Ltd. (project successful Bengaluru) and ACME Realities Pvt. Ltd.; and MKHS Housing LLP, Kolkata.
“It whitethorn beryllium recalled that thousands of homebuyers crossed India being cheated by the builders/developers and further aggrieved by the coercive enactment of fiscal institutions against them approached the Supreme Court by mode of filing SLPs (Special Leave Petitions), seeking relief,” the bureau said.
The Supreme Court, observing the unholy nexus betwixt the builders and the fiscal institutions successful cheating the homebuyers by innovating and introducing ‘Subvention Scheme’ of location loans, successful April 2025 directed the CBI to registry 7 preliminary enquiries.
“Following the directions of the Supreme Court, CBI had registered the preliminary enquiries and aft completion of six preliminary enquiries — which were pertaining to builders successful the NCR (National Capital Region), the CBI had earlier submitted the presumption study earlier the Supreme Court,” it said.
On the directions of the Supreme Court, the bureau past registered 22 cases against assorted builders of NCR, which are nether progressive investigation.
“Now, connected completion of the 7th preliminary enquiry, which was against assorted builders extracurricular NCR, the CBI has submitted the presumption study earlier the Supreme Court. Upon perusal of the report..., the Court directed the CBI to registry six regular cases against antithetic builders successful Kolkata, Bengaluru, and Mumbai and chartless officials of fiscal institutions,” said the agency, adding that the searches were nether way.
