NEW DELHI: Nearly a week after the Supreme Court’s direction, the Central Bureau of Investigation (CBI) on Wednesday registered 22 FIRs against different builders operating in the National Capital Region (NCR) and unknown functionaries of various financial institutions to investigate a possible nexus between them in allegedly cheating and defrauding thousands of homebuyers in the region, officials said.
The officials stated that the CBI took the action in compliance with the directions of the Supreme Court and, after registering the cases, agency sleuths conducted searches at 47 premises linked to the accused across the NCR.
It is to be noted that scores of homebuyers in the NCR, who were allegedly cheated by builders and developers and further coerced by financial institutions for repayment of their loans, had earlier approached the Supreme Court by filing Special Leave Petitions (SLPs) to seek relief.
A spokesperson of the CBI, in an official statement, said, “The Supreme Court, observing the unholy nexus between the builders and the financial institutions in cheating the homebuyers by innovating and introducing the ‘Subvention Scheme’ of home loans, in the month of April 2025, had directed CBI to register 7 Preliminary Enquiries (PEs).”
Following the Supreme Court's directives, the CBI registered seven Preliminary Enquiries (PEs) and, after completing the enquiry in six of them within three months, submitted the status report to the Supreme Court, he said.
The official added, “Upon perusal of the status report submitted by the CBI, the SC directed the CBI to register 22 Regular Cases against different builders in the NCR area and unknown officials of financial institutions.”
Therefore, the CBI has registered 22 cases and conducted searches at 47 locations in Delhi, Gurugram, Noida, Greater Noida, and Ghaziabad, he said. He further added that various incriminating documents and some digital electronic evidence have been seized during the searches, and the investigation is continuing.
Prominent among the 22 real estate companies named in the FIRs include M/s Supertech Limited, M/s Earthcon Universal Infratech Pvt. Ltd./ “Casa Royale”, M/s Bulland Buildtech Pvt. Ltd./ “Bulland Elevates”, M/s Rudra Buildwell Construction Pvt. Ltd./ “KBNOWS Apartments”, M/s Logix City Developers Pvt. Ltd./ “Blossom Zest”, M/s Jaypee Infratech Ltd./ “Orchards”, M/s Ajnara India Ltd./ “Ajnara Ambrosia”, and Jaypee Sports International Limited/Jaiprakash Associates Limited (Kove Project, Kassia Project).