BENGALURU: In another significant development in the ongoing investigation into large-scale cheating of homebuyers, the Central Bureau of Investigation (CBI) has filed chargesheets against Ithaca Estate Pvt Ltd, its director, officials of HDFC Bank, ICICI Bank, Indiabulls Housing Finance, LGCL Urban Homes (India) LLP and its director in connection with alleged fraudulent activities in a housing project in Bengaluru. The chargesheets were filed in the CBI court in the city.
“Investigation has revealed that the accused builder company and its directors, in conspiracy with bank officials and other private persons, allegedly induced homebuyers/investors through false assurances and fraudulent representations and obtained financial benefits by resorting to illegal and deceptive means,” the CBI stated in an official release on Tuesday.
“The chargesheet was filed before the competent court under relevant provisions of the IPC pertaining to criminal conspiracy, abuse of official position, cheating and criminal breach of trust along with provisions under the Prevention of Corruption Act (PCA),” added the anti-corruption agency.
CBI probes 34 fraud cases
The CBI is presently investigating another 34 cases registered on the directions of the Supreme Court against various builder companies and unknown officials of financial institutions across the country in matters concerning alleged cheating and diversion of funds involving homebuyers.
The agency has so far filed 13 chargesheets against Rudra Buildwell Constructions, Dream Procon, Jaypee Infratech, AVJ Developers (India), CHD Developers, Sequel Buildcon, Logix City Developers, Manju J Homes India, Shubhkamna Buildtech, Ninex Developers, Decent Buildwell, Rudra Buildwell Projects, their directors.