Amid the ongoing investigation into large-scale homebuyer fraud, the Central Bureau of Investigation (CBI) has filed a charge-sheet against Shubhkamna Buildtech Pvt. Ltd. and its directors in connection with the alleged fraudulent activities related to a housing project in Greater Noida.
During investigation into the matter, it came to light that the builder company and its directors, in furtherance of a criminal conspiracy, allegedly lured innocent homebuyers and investors through false assurances, misleading representations, and deceptive promises, read an official statement from the central agency.
The CBI has accused them of dishonestly obtaining financial gains while causing wrongful losses to the victims.
During the probe, officials were able to uncover substantial evidence in the case, following which the charge-sheet was filed before the competent court under relevant provisions of the Indian Penal Code (IPC) pertaining to criminal conspiracy, cheating, and criminal breach of trust, the statement added.
Notably, the central agency is probing as many as 50 cases registered pursuant to directions issued by the Supreme Court against various builder companies and unknown officials of financial institutions around the country. These matters involve allegations of cheating homebuyers and diversion of funds.
Earlier, the CBI filed nine charge-sheets against Rudra Buildwell Constructions Pvt. Ltd., Dream Procon Pvt. Ltd., Jaypee Infratech Ltd., AVJ Developers (India) Pvt. Ltd., CHD Developers Pvt. Ltd., Shubhkamna Buildtech Pvt. Ltd., Sequel Buildcon Pvt. Ltd., Logix City Developers Pvt. Ltd., and Manju J Homes India Ltd., along with their directors and certain officials of banks and financial institutions, the statement added.