Searches Conducted at 47 Premises across NCR
FinTech BizNews Service
Mumbai, 2 August, 2025: In a major crackdown on builders involved in cheating and defrauding thousands of homebuyers in National Capital Region (NCR) and to investigate the nexus of builders and officials of financial institutions, Central Bureau of Investigation(CBI) has registered 22 cases against different builders of NCR and unknown officials of various financial institutions in compliance of the directions of the Supreme Court (SC) and conducted searches at 47 premises across NCR, as per a press release issued by the CBI.
Thousands of homebuyers in NCR, being cheated by the builders/developers and further aggrieved by the coercive action of financial institutions against them, approached the Hon’ble Supreme Court by way of filing SLPs, seeking relief. The Hon’ble Supreme Court observing the unholy nexus between the builders and the financial institutions in cheating the homebuyers by innovating and introducing ‘Subvention Scheme’ of home loans, in the month of April 2025, directed CBI to register 7 Preliminary Enquiries (PEs). Following the directives of Hon’ble Supreme Court, CBI had registered 7 PEs and within the time period of 3 months completed enquiry in 6 PEs and submitted the status report before the Supreme Court. Upon perusal of the status report submitted by the CBI, the Hon’ble SC directed CBI to register 22 Regular Cases, against different builders in NCR area and unknown officials of financial institutions.
In this connection, CBI has registered 22 cases and conducted searches at 47 locations/places at Delhi, Gurugram, Noida, Greater Noida, Ghaziabad etc. Various incriminating documents and some digital electronic evidences have been seized during the searches.
Investigation is continuing.
