CBI Registers 22 FIRs Against Builders in NCR Housing Scam, Exposes Unholy Nexus
The Central Bureau of Investigation (CBI) has registered 22 FIRs against various builders and financial institutions in the National Capital Region (NCR) for allegedly cheating and defrauding thousands of homebuyers. The action comes after the Supreme Court's direction to investigate the 'unholy nexus' between builders and financial institutions.
CbiNcrHousing ScamReal EstateHomebuyersReal EstateJul 30, 2025
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.
Frequently Asked Questions
What is the 'unholy nexus' mentioned in the CBI's investigation?
The 'unholy nexus' refers to the alleged collaboration between builders and financial institutions to defraud homebuyers through schemes like the 'Subvention Scheme' of home loans. This scheme involved misleading homebuyers about the terms and conditions of their loans and coercing them into making repayments.
How many FIRs did the CBI register against builders in the NCR?
The CBI registered 22 FIRs against different builders and unknown functionaries of financial institutions in the National Capital Region (NCR).
What prompted the CBI to take action in this case?
The CBI's action was prompted by the Supreme Court's directions, which were issued in response to a series of Special Leave Petitions (SLPs) filed by aggrieved homebuyers who alleged they were cheated by builders and developers and coerced by financial institutions to repay their loans.
Which real estate companies are named in the FIRs?
Prominent real estate companies named in the FIRs include 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).
What is the status of the ongoing investigation?
The CBI has registered 22 cases and conducted searches at 47 premises linked to the accused across the NCR. Various incriminating documents and digital electronic evidence have been seized, and the investigation is continuing.
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