File image. | Photo Credit: PTI
The Central Investigation Office (CBI) on Wednesday (July 30, 2025) carried out 47 locations in the capital city (NCR) after registration 22 cases in the Supreme Court’s directive to explore the alleged connection between builders and financial institutions for cheating domestic resources.
The names of companies and their best officials listed in these first information reports include SuperTech Limited, AVJ Developers (India), EarthCon Universal Infratech, Rudra Buildwell Projects, Geotech promoters, SHUBHKAMNA BUILDTECH, BUILDTECH, DECENT BUILDWELL, Rudra Buildwell Construction Dream Pocon.
Logix City developers, SHUBHKAMNA BUILDTECH, JAYPEE INFRATECH, SEQUEL BUILDCON, AJNARA INDIA, VATIKA LIMITED, CHD Developers Limited, Ninex Developers, Jaypee Sports International Limited
Hundreds of Homebuyers in NCR, cheated on the builders/developers and further damaged by the coercive conduct of financial institutions against them, turned to the Supreme Court and sought relief. In April, the court noted that they were cheated on innovation and the introduction of the “Subvent Subvent” of Loan for Housing.
In accordance with this, the agency completed its investigation in six matters within three months and submitted a report before court. “After setting up a report on the CBI CBI, Hon’ble SC CBI ordered to register 22 regular cases, against various NCR builders and unknown financial institutions,” the agency said, adding that the search was carried out in Delhi, Gurogram, Noida, Velké Noida and Ghaziabad.
In companies against supets, the agency argued that builders-in connecting to banks/financial institutions-took a detailed system for the sale of their nine residential projects, which reported “no chairmen until the possession of the residential unit”, attracted Homebuyery to booking/purchase of residential units.
While the projects started from 2010 to 2017, SuperTech began to make the starting value after the payment of emissions in 2018–2019 and even constructed/finished the project, nor continued to pay the pre-EMI, as promised when it has been handed over to Homebuyer apartments. Their deposits were also not returned as mentioned. The agency found that banks began to deduct EMI from Homebuyers and, in the event of failure, reported their accounts as a non -functional asset, and therefore their onion score was unfavorable.
Among the accused in this case are unknown officials of the former Indian bank, Icici banks, Indiabulls Housing Finance Limited, HDFC Housing Finance Limited, PNB Housing Finance, India Infoline Finance, L&T Finance and Aditya Birla Housing Finance.
Similar cases were found in other projects in question. In the varicose firs, the role of unknown officials of banks and the financial institutions as the state bank of India, Formly State Bank of Travancore, UCO Bank, Reliance Housing Finance Limited, Axis Bank, Tata Capital Housing Finance, Diwan Housing Finance, Central Bank of India, Samman Capital Limited Will Also Be Investigated by the Agency.
Published – 31 July 2025 03:18
