Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>CBI Files 22 FIRs Under Supreme Court Orders to Probe Builder-Bank Collusion Defrauding Homebuyers</h1> The Central Bureau of Investigation (CBI) has registered 22 FIRs following Supreme Court directions to probe an alleged collusion between builders and banks to defraud homebuyers in the National Capital Region. The investigations target multiple real estate companies and financial institutions involved in a subvention scheme where banks disbursed loans directly to developers, who were supposed to pay EMIs until possession was delivered. Due to widespread developer defaults, banks demanded repayments from buyers who had not received possession of flats. The Supreme Court commended the CBI's extensive investigation, which included examining over 1,000 individuals and inspecting numerous project sites. The court is also overseeing a separate ongoing inquiry into projects outside the NCR. The action responds to petitions from over 1,200 homebuyers alleging coercion by financial institutions to pay EMIs despite non-possession. The CBI was directed to convert preliminary inquiries into regular cases and proceed with investigations accordingly.