New Delhi. The Central Bureau of Investigation (CBI) has taken major action in the case of alleged fraud on homebuyers who are dreaming of owning a house. The investigating agency has filed a charge sheet in the special CBI court at Rouse Avenue, Delhi, against real estate company M/s Earthcon Universal Infratech Private Limited and its directors in the case related to 'Casa Royale' housing project located in Sector-1, Greater Noida.
The CBI investigation alleges that the builder company and its directors lured home buyers and investors into investing through false assurances and misleading representations. Subsequently, undue financial gain was allegedly achieved through fraudulent and illegal means.
Accused of embezzling investors' money
According to the investigating agency, the accused adopted such methods as part of the conspiracy, due to which investors lost their hard-earned money. Based on the available evidence, the CBI has presented the charge sheet in the court under sections of the Indian Penal Code related to criminal conspiracy, cheating and criminal breach of trust.
Investigation of 30 cases on the instructions of the Supreme Court
This action is part of the investigation being conducted by the CBI following the directions of the Supreme Court in cases related to fraud with home buyers and alleged diversion of funds. The agency is investigating 30 cases related to various builder companies and financial institutions across the country. CBI has already filed 18 charge sheets against various builders and bank officials. The charge sheet filed against Earthcon Universal Infratech is the 19th charge sheet in this series.
Action has already been taken against many big builders
CBI has so far filed chargesheet against many real estate companies including Jaypee Infratech, Logix City Developers, Rudra Buildwell Constructions, Rudra Buildwell Projects, Dream Procon, AVJ Developers, CHD Developers in the cases related to this case.
Apart from these, cases related to Sequel Buildcon, Manju J Homes India, Shubhash Buildtech, Ninex Developers, Decent Buildwell, Ithaca Estate, LGCL Urban Homes, Saha Infratech, MKHS Housing and Ozone Urbana Infra Developers have also been under investigation. The CBI has said that action will continue to hold accountable the culprits in cases of economic crimes, corruption and public fraud affecting the interests of common citizens and middle class home buyers.
Also read:-Pilibhit News: Village administrator committed suicide by consuming poison, FIR of attack was registered eight days ago…allegation of torture