New Delhi, July 14: In a major development in the ongoing investigation into large-scale homebuyers’ fraud cases, the Central Bureau of Investigation (CBI) has filed its 16th chargesheet against M/s Saha Infratech Pvt. Ltd., its Director, and officials of HDFC Bank Ltd. and ICICI Bank Ltd. in connection with alleged fraudulent activities linked to a housing project in Noida.
According to a CBI press release issued on Tuesday, the chargesheet has been filed before the Special Judge, CBI Cases, RADC, New Delhi, following an extensive investigation into allegations of cheating and financial fraud involving homebuyers and investors.
The CBI said its investigation revealed that the accused builder company and its directors, allegedly in conspiracy with bank officials and other private persons, induced homebuyers and investors through false assurances, misleading representations and deceptive practices, thereby obtaining financial benefits through illegal means.
The investigating agency stated that substantial evidence has been collected during the probe, leading to the filing of the chargesheet under relevant provisions of the Indian Penal Code (IPC) and the Prevention of Corruption Act, covering offences related to criminal conspiracy, abuse of official position, cheating and criminal breach of trust.
The CBI further disclosed that it is currently investigating 33 other cases registered on the directions of the Supreme Court of India against various builder companies and unidentified officials of banks and financial institutions across the country. These cases relate to allegations of cheating homebuyers and diversion of funds meant for housing projects.
The agency also noted that, prior to the latest filing, it had already submitted 15 chargesheets against several builder companies, including Rudra Buildwell Constructions Pvt. Ltd., Dream Procon Pvt. Ltd., Jaypee Infratech Ltd., AVJ Developers (India) Pvt. Ltd., CHD Developers Pvt. Ltd., Sequel Buildcon Pvt. Ltd., Logix City Developers Pvt. Ltd., Manju J Homes India Ltd., Shubhkamna Buildtech Pvt. Ltd., Ninex Developers Ltd., Decent Buildwell Pvt. Ltd., Rudra Buildwell Projects Pvt. Ltd., Ithaca Estate Pvt. Ltd., and LGCL Urban Homes (India) LLP, along with their directors and officials of certain banks and financial institutions.
Reiterating its commitment to tackling economic offences, the CBI said it remains focused on ensuring accountability in cases involving economic crimes, corruption and public fraud, particularly those adversely affecting the interests of homebuyers and common citizens.(KNC)
