The Central Bureau of Investigation (CBI) has intensified its crackdown on homebuyer fraud, filing its 16th chargesheet against Saha Infratech Pvt Ltd,its director,and officials from HDFC Bank Ltd and ICICI Bank Ltd. This latest legal action,announced on Tuesday, is part of a broader investigation into fraudulent activities linked to housing project in Noida.
Filed before the Special Judge for CBI Cases at the Rouse Avenue District Court in New Delhi,the chargesheet outlines serious allegations against builder and bank officials. The CBI's investigation uncovered conspiracy involving the accused parties,who allegedly misled homebuyers and investors with false promises and deceptive practices. These actions reportedly enabled them to gain financially through illegal means.
Key charges in the document include criminal conspiracy, abuse of official position,cheating,and criminal breach of trust. CBI's findings are based on substantial evidence collected during investigation,which prompted the agency to invoke relevant sections of the Indian Penal Code and the Prevention of Corruption Act.
In addition to this case, CBI is pursuing 33 other investigations, initiated by directives from the Supreme Court . These cases target various builder companies and unidentified officials from financial institutions across India,all linked by allegations of cheating homebuyers and misappropriating funds.
Previously, the CBI has filed 15 chargesheets against a range of real estate firms, including Rudra Buildwell Constructions Pvt Ltd, Dream Procon Pvt Ltd, and Jaypee Infratech Ltd. Other implicated companies include AVJ Developers (India) Pvt Ltd, CHD Developers Pvt Ltd,and Logix City Developers Pvt Ltd,among others. These actions have also involved directors and officials from several banks and financial institutions.
The CBI's ongoing efforts reflect its commitment to holding accountable those involved in economic crimes, corruption, and public fraud. agency emphasizes the importance of protecting the interests of ordinary citizens and homebuyers,who have been adversely affected by these fraudulent schemes.
