New Delhi: In another significant development in the ongoing investigation into large-scale cheating of homebuyers, the Central Bureau of Investigation (CBI) has filed charge sheets against M/s Ithaca Estate Pvt. Ltd. and its Director and officials of HDFC Bank Ltd., ICICI Bank Ltd. and M/s Indiabulls Housing Finance Ltd. and M/s LGCL Urban Homes (India) LLP and its Director in connection with alleged fraudulent activities relating to a housing project situated at Bengaluru. Both the charge sheets have been filed in respective concerned court of CBI cases at Bengaluru.
Investigation conducted by CBI has revealed that the accused builder company and its Directors, in conspiracy with bank officials and other private persons, allegedly induced homebuyers/investors through false assurances and fraudulent representations and obtained financial benefits by resorting to illegal and deceptive means.
The investigation unearthed substantial evidence and the charge sheet has been filed before the competent Court under relevant provisions of the Indian Penal Code pertaining to criminal conspiracy, abuse of official position, cheating and criminal breach of trust and provisions of Prevention of Corruption Act.
The CBI is presently investigating another 34 cases registered pursuant to the directions of the Hon’ble Supreme Court against various builder companies and unknown officials of financial institutions across the country in matters concerning alleged cheating and diversion of funds involving homebuyers.
The CBI had so far filed 13 chargesheets against M/s Rudra Buildwell Constructions Pvt. Ltd., M/s Dream Procon Pvt. Ltd., M/s Jaypee Infratech Ltd., M/s AVJ Developers (India) Pvt. Ltd., M/s CHD Developers Pvt. Ltd., M/s Sequel Buildcon Pvt. Ltd., M/s Logix City Developers Pvt. Ltd., M/s Manju J Homes India Ltd., M/s Shubhkamna Buildtech Pvt. Ltd., M/s Ninex Developers Ltd., M/s Decent Buildwell Pvt. Ltd. and M/s Rudra Buildwell Projects Pvt. Ltd. and their Directors and also against the officials of certain banks and financial institutions.
The CBI reiterates its commitment to ensuring accountability in cases involving economic offences, corruption and public fraud, particularly matters adversely impacting the interests of common citizens and homebuyers.
