CBI Has initiated major action on real estate developers and banks allegedly involved in fraud with home buyers in the National Capital Region (NCR). The CBI has registered 22 cases under the Supreme Court’s instructions to investigate cases related to the connivance between builders and banks for fraud with homebeelers. The CBI has named JP Sports International Limited, Jayaprakash Associates Limited, Ajnara India Limited, Vatika Limited, JP Infratech Limited, Supertech and Idea Builders in their different cases.
These banks and financial companies on CBI target
The CBI said that the cases registered by the agency’s Economic Offenses Unit include banking and names of banking and financial companies like State Bank of India, Indiabulls Housing Finance Limited, Piramal Finance, HDFC Bank, ICICI Bank, Tata Capital Housing Finance and PNB Housing Finance Limited. CBI has given Supreme Court judges Justice Suryakant and Justice N.K. This action is taken following the instructions of Kotishwar Singh’s bench. The bench had approved the CBI to investigate against different builders and banks.
Supreme Court is hearing the petition of more than 1200 homebuyers
The CBI said in a statement issued on July 30, “CBI raided 47 places in NCR in Delhi, Gurugram, Noida, Greater Noida and Ghaziabad. During the raid, several objectionable documents and some electronic evidence have been seized during the raid.” In the raid, offices and houses associated with builders and banks were targeted. Let us tell you that the Supreme Court was hearing petitions of more than 1200 home buyers who book flats under subsidy schemes, especially in NCR Housing Projects, especially in Noida, Greater Noida and Gurugram.
Home buyers filed SLP by fileing SLP
The statement said, “Thousands of home buyers, who are cheated by the builders/developers in NCR and the forced action against them by financial institutions, filled the Supreme Court by filing a special permission petition (SLP), pleading for relief. The Supreme Court started the Supreme Court in April 2025 by starting the ‘submission scheme on home loans’ and cheating on the home buyers and fetch the home buyers. Given, the CBI was directed to register 7 preliminary inquiry (PE). “
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