Greater Noida, June 25: In a significant development in the ongoing investigation into large-scale fraud against homebuyers, the Central Bureau of Investigation (CBI) has filed a chargesheet against Buildwell Private Limited and its directors. This action pertains to alleged fraudulent activities linked to a housing project in Greater Noida.
The CBI’s investigation revealed that the accused builder company and its directors allegedly lured homebuyers and investors through false assurances, misleading statements, and deceptive promises, resulting in financial gains at the victims’ expense.
Solid evidence has been gathered during the investigation, leading to the filing of the chargesheet under sections related to criminal conspiracy, fraud, and criminal breach of trust as per the Indian Penal Code (IPC) in a competent court.
Currently, the CBI is investigating 37 other cases related to alleged fraud against homebuyers and misuse of funds, following directives from the Supreme Court. These cases involve various builder companies and unknown officials from financial institutions across the country.
Previously, the central investigative agency had filed 11 chargesheets against Rudra Buildwell Constructions Private Limited, Dream Procon Private Limited, JP Infratech Limited, AVJ Developers (India) Private Limited, CHD Developers Private Limited, Sequel Buildcon Private Limited, Logix City Developers Private Limited, Manju J Homes India Limited, Shubhkamna Buildtech Private Limited, and NineX Developers Limited, along with their directors and certain bank officials.
The CBI reiterates its commitment to ensuring accountability in cases related to economic crimes, corruption, and fraud against the public, particularly those that adversely affect the interests of ordinary citizens and homebuyers.
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