CBI registers 22 cases on SC Directive to investigate alleged builders banks Nexus; performs searches at 47 locations in NCR

The Central Bureau of Investigation (CBI) carried out searches on Wednesday (July 30, 2025) at 47 locations in the National Capital Region (NCR) After registering 22 cases, on the Directive of the Supreme Court, to investigate the alleged Nexus between builders and financial institutions for the cheating of Homebuyers.

Names of the companies and their top officials mentioned in these first information reports are Supertech Limited, AVJ developers (India), Earthcon Universal Infratech, Rudra Buildwell Projects, GeoTech promoters, Shubhkamna Buildech, Bulra Buildwell, Buildwell, Buildwell, Buildwell, Saildence, Buildwell, Buildwell, Buildwell, Buildwell, Buildwell, Buildwell, Buildwell, Buildwell, Buildwell, Buildwell, Buildwell, Buildwell, Infratech and Dream ProCon.

Logix City -ontwikkelaars, Shubhkamna BuildTech, Jaypee Infratech, Sequel Buildcon, Ajnara India, Vatika Limited, CHD Developers Limited, Ninex Developers, Jaypee Sports International Limited/Jaiprakash Associates Limited, Idea Builders, Idea Builders, Idea Builders, Idea Builders, Idea Builders, Idea Builders and Manju J Homes India Limited are also mentioned, according to the agency.

Hundreds of home buyers in the NCR are cheated by builders/developers and were further stood by the compelling action of financial institutions against them, the Supreme Court had approached to look for exemption. Note that they were cheated by innovating and introducing a ‘subsidy schedule’ of home loans, the court had instructed the CBI in April to take seven provisional investigations.

Accordingly, the Agency completed its investigation in six cases within three months and submitted the status report to the court. “When completing the status report submitted by the CBI, the Hon’Be SC commissioned the CBI to register 22 regular items, to various builders in the NCR area and unknown officials of financial institutions,” said the agency, adding that the searches were made in Delhi, Gururugram.

In the FIR against Supertech, the agency claimed that the builders-in Connivance with banks/financial institutions, the subsidy schedule for the sale of its nine residential projects stated that stated: “No pre-EMI to possess the possession of residential unit”, so that home buyers for booking/buying residential units.

While the projects were launched from 2010 to 2017, SuperTech began to fail to pay EMIs in 2018-2019 and the project was not constructed/completed, nor continued to pay pre-EMI/EMI as promised to hand over the possession of flats to home buyers. Their deposits were also not repaid, as claimed. The agency found that the banks started deducting EMI from home buyers and in the event of standard their accounts reported as non-performing assets and therefore their Cibil score was adversely affected.

Among the persons accused of the case are unknown officials of the former Indian Bank, ICICI Bank, Indiabulls Housing Finance Limited, HDFC Housing Finance, PNB Housing Finance, India Infoline Housing Finance, L&T Housing Finance and Aditya Housing Housing.

Similar cases were found in other projects in question. In de verschillende FIR’s, de rol van onbekende functionarissen van banken en financiële instellingen zoals de State Bank of India, voorheen State Bank of Travancore, UCO Bank, Reliance Housing Finance Limited, Axis Bank, Tata Capital Housing Finance, Diwan Housing Finance Limited, Central Bank of India, Samman Capital Limited, en Punjab National Bank zal ook worden onderzocht door The agency.