New Delhi: The Central Bureau of Investigation has filed its 10th charge sheet in the ongoing investigation into alleged large-scale fraud involving homebuyers and real estate companies across the country.
The latest chargesheet has been filed against Shubhkamna Buildtech Pvt. Ltd. and its directors in connection with a housing project located in Greater Noida.
Allegations of Fraud and Misleading Promises
According to the CBIthe builder company and its directors allegedly entered into a criminal conspiracy to cheat homebuyers and investors through false assurances, misleading advertisements, and deceptive promises related to the housing project.
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Investigators claim that the accused dishonestly collected money from buyers while causing financial losses to investors who trusted the company’s commitments regarding the project.
The agency stated that substantial evidence was collected during the investigation, following which the chargesheet was filed before a competent court under provisions related to criminal conspiracy, cheating, and criminal breach of trust under the Indian Penal Code.
Wider Probe Into Builder and Financial Institution Cases
The CBI is currently investigating around 50 cases linked to allege cheating of homebuyers and diversion of funds by various builder companies and unidentified officials of financial institutions.
these investigations were initiated following directions issued by the Supreme Court of India. The agency said broader investigation focuses on identifying financial irregularities, misuse of funds collected from homebuyers, and possible involvement of banking or institutional officials in facilitating fraudulent activities.
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Previous Chargesheets Already Filed
Before the latest action, the CBI had already filed nine chargesheets against several real estate companies and their directors, including firms such as Rudra Buildwell Constructions, Dream Procon, Jaypee Infratech, AVJ Developers, CHD Developers, Sequel Buildcon, Logix City Developers, and Manju J Homes India Ltd.
The probe agency has also taken action against certain officials linked to banks and financial institutions in connection with these cases. The CBI reiterated its commitment to ensuring accountability in economic offenses and protecting the interests of homebuyers affected by large-scale financial fraud.
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