Delhi NCR Builder Bank Unholy Nexus: The Supreme Court on Tuesday allowed the CBI to register six more regular cases regarding the ‘impure alliance’ between banks and developers to cheat home buyers in real estate projects in Mumbai, Bangalore, Kolkata, Mohali and Prayagraj. A bench of Justice Suryakant, Justice Ujjwal Bhuiyan and Justice N. Kotishwar Singh allowed the CBI to move forward according to the law.
CBI Additional Solicitor General Aishwarya Bhati, appearing on behalf of the CBI, said that the CBI has completed the initial investigation in the projects of various builders located in Mumbai, Bangalore, Kolkata, Mohali and Prayagraj, except Delhi-NCR.
The bench noted the argument of the Central Bureau of Investigation (CBI) that after a preliminary investigation, it has found that a cognizable offense is formed and allowed the agency to register regular cases and proceed according to the law. Bhati said that the agency is ready to register six regular cases for quick investigation and search and confuse the case.
The country’s apex court has directed Additional Solicitor General Aishwarya Bhati to share some excerpts from the report in the sealed envelope with Justice Syamitra Rajiv Jain.
22 FIRs are already recorded
Let me tell you that before Supreme Court The bench had given six weeks to complete the initial investigation of projects outside the National Capital Region (NCR), allowing the agency to register 22 cases to investigate the nefarious alliance between banks and developers who cheat home buyers in Delhi-NCR, on 22 July 2025.
These 22 cases were related to builders working in NCR and development authorities of Uttar Pradesh and Haryana. Under this subvention scheme, banks deposit the sanctioned amount directly to the accounts of the builders, who have to pay EMI on the sanctioned loan amount until the flat home is handed over to the buyers.
When the builders did not start paying EMIs to banks, as per the tripartite agreement, banks demanded EMI from home buyers. The apex court at that time noted that the seventh preliminary inquiry lodged by the CBI, except Supertech Limited, is still continuing with the projects of various builders located in Mumbai, Bengaluru, Kolkata, Mohali and Prayagraj, outside the NCR.
The apex court is hearing petitions filed by more than 1,200 home buyers, who booked flats under subsidy schemes in various residential projects in NCR, especially Noida, Greater Noida and Gurugram. These buyers allege that the banks are forcing them to pay EMIs despite the non -possession of the flats.
On March 29, the apex court allowed the CBI to register five initial investigations in the cases of builders and projects in Noida, Greater Noida, Gurugram, Yamuna Expressway and Ghaziabad.
It allowed a preliminary inquiry against the reality sector head company Supetech Limited, against which 799 home buyers have moved the apex court through 84 appeals related to projects in eight different cities.
On July 22, the apex court visited the report submitted by the CBI in the sealed envelope, suggesting that after conducting a preliminary investigation into cases to detect a cognizable offense by the builders and financial institutions, 22 regular cases are required to be filed for further investigation.
On 29 April, the apex court directed the CBI to register seven preliminary investigations against NCR builders, including Supertech Limited. Expressing displeasure over the connivance of officials, banks and builders of the development authorities to cheat home buyers, the apex court said that it had revealed the first -site of the numbers between the famous banks and builders in Noida, Gurugram, Yamuna Expressway, Greater Noida, Mohali, Mumbai, Kolkata and Prayagraj.
Nyayamitra had blamed Supertech Limited as the main convict in fraud with home buyers, while the Corporation Bank paid more than Rs 2,700 crore to the builders through subvention schemes. Amicus Curie’s report has revealed that Supertech Limited had received a loan of Rs 5,157.86 crore alone.
—- End —-
Source link
[ad_3]
