CBI Registers 22 FIRs Against Builders in NCR Housing Scam, Exposes Unholy Nexus
The Central Bureau of Investigation (CBI) has taken significant action in the ongoing housing scam in the National Capital Region (NCR). On Wednesday, the CBI registered 22 First Information Reports (FIRs) against different builders and unknown functionaries of various financial institutions. This move comes in compliance with the Supreme Court's directions, which were issued to investigate the alleged nexus between builders and financial institutions that have been cheating and defrauding thousands of homebuyers in the region.
The CBI's action was prompted by a series of Special Leave Petitions (SLPs) filed by aggrieved homebuyers in the Supreme Court. These homebuyers had alleged that they were cheated by builders and developers and were further coerced by financial institutions to repay their loans. The Supreme Court, in April 2025, observed the 'unholy nexus' between builders and financial institutions, particularly the 'Subvention Scheme' of home loans, and directed the CBI to register seven Preliminary Enquiries (PEs).
Following the Supreme Court's directives, the CBI registered seven Preliminary Enquiries (PEs). After completing the enquiry in six of them within three months, the CBI submitted a status report to the Supreme Court. Upon reviewing the report, the Supreme Court directed the CBI to register 22 Regular Cases against different builders in the NCR area and unknown officials of financial institutions.
As a result, the CBI has registered 22 cases and conducted searches at 47 premises linked to the accused across the NCR, including locations in Delhi, Gurugram, Noida, Greater Noida, and Ghaziabad. During these searches, various incriminating documents and digital electronic evidence have been seized, and the investigation is ongoing.
Prominent among the 22 real estate companies named in the FIRs are M/s Supertech Limited, M/s Earthcon Universal Infratech Pvt. Ltd. (Casa Royale), M/s Bulland Buildtech Pvt. Ltd. (Bulland Elevates), M/s Rudra Buildwell Construction Pvt. Ltd. (KBNOWS Apartments), M/s Logix City Developers Pvt. Ltd. (Blossom Zest), M/s Jaypee Infratech Ltd. (Orchards), M/s Ajnara India Ltd. (Ajnara Ambrosia), and Jaypee Sports International Limited/Jaiprakash Associates Limited (Kove Project, Kassia Project).
The CBI's action is a significant step towards ensuring accountability and justice for the thousands of homebuyers who have been victims of fraudulent practices in the real estate sector. The ongoing investigation is expected to shed more light on the extent of the fraud and the involvement of various stakeholders. The CBI has assured that the investigation will be thorough and will leave no stone unturned in bringing the guilty to justice.
