CBI Files Charges Against Builder and Directors for Fraud Against Homebuyers

New Delhi, May 29: The Central Bureau of Investigation (CBI) has filed a chargesheet against a builder company based in Greater Noida and its directors for alleged fraud against homebuyers.

The chargesheet has been submitted against M/S Shubhkamna Buildtech Private Limited and its associated directors. According to the agency, this case is linked to a housing project where numerous investors and homebuyers were reportedly misled.

The CBI’s investigation revealed that the accused company and its directors attracted individuals through a well-planned criminal conspiracy. They allegedly made false promises, provided misleading information, and offered enticing deals to encourage more people to purchase flats or invest. Subsequently, the funds collected from these individuals were misappropriated, causing them significant financial loss.

The agency stated that substantial evidence was gathered during the investigation, which led to the filing of the chargesheet in a competent court. This chargesheet has been filed under sections of the Indian Penal Code related to criminal conspiracy, fraud, and breach of trust.

The CBI also mentioned that, under the directives of the Supreme Court, it is investigating a total of 50 cases across the country. These cases involve various builder companies and officials from financial institutions accused of fraud against homebuyers and misuse of funds.

Previously, the CBI has filed charges against several other builder companies, including M/S Rudra Buildwell Constructions Private Limited, M/S Dream Procon Private Limited, M/S JP Infratech Limited, M/S AVJ Developers (India) Private Limited, M/S CHD Developers Private Limited, M/S Sequel Buildcon Private Limited, M/S Logix City Developers Private Limited, and M/S Manju J Homes India Limited. Additionally, actions have been taken against officials from some banks and financial institutions.

The CBI reiterated its commitment to taking strict action against economic crimes and fraud against ordinary citizens. The agency emphasizes that protecting the interests of homebuyers and curbing financial irregularities remain its top priorities.