CBI
New Delhi: The Central Bureau of Investigation (CBI) has launched a massive nationwide crackdown by conducting searches at 77 locations across 8 states and Union Territories in connection with builder-financial institution nexus cases.
According to the agency, 22 new cases have been registered based on directions of the Hon’ble Supreme Court against various builders. The searches are linked to allegations of a nexus between certain builders and officials of financial institutions, resulting in cheating and defrauding of innocent homebuyers.
CBI officials said the coordinated search operations led to the seizure of incriminating documents, digital devices, and other materials, which are currently under examination.
The action is aimed at collecting crucial evidence to unravel a larger conspiracy involving alleged diversion of funds, financial irregularities, and fraudulent practices in the housing and real estate sector.
Officials also noted that the CBI had earlier registered 28 cases against builders in compliance with Supreme Court directions. With the addition of the 22 new cases, the total number of cases registered has now reached 50.
The agency reiterated its commitment to conducting a fair, impartial, and expeditious investigation to ensure that those responsible are brought to justice and the interests of affected homebuyers are protected.
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