NEW DELHI: CBI filed 22 fresh FIRs and raided 77 locations across 8 states and UTs on Tuesday in compliance with Supreme Court’s order to investigate an “unholy nexus” between builders and bank officials cheating innocent homebuyers.“These coordinated search operations are part of a nationwide crackdown. Officials seized incriminating documents, digital devices, and other materials,” said a CBI spokesperson.The raids aimed at gathering crucial evidence to unravel the larger conspiracy involving alleged diversion of funds, financial irregularities, and fraudulent practices in the housing real estate sector, an official said.CBI had earlier filed 28 cases against various builders. “Those cases are under final stages of investigation,” the agency said.Early last year, SC had directed CBI to file seven cases against builders in NCR following petitions from over 1000 homebuyers. Later, the court asked the agency to register six more FIRs to investigate real estate projects in Mumbai, Bengaluru, Kolkata, Mohali, and Prayagraj.Most of the cases pertain to NCR projects duping homebuyers through “subvention schemes”. The petitioners have alleged that bank officials disbursed loans to builders under the scheme without due diligence as the projects remained on paper only.CBI has filed 22 FIRs and raided 77 locations following SC directions to probe the unholy nexus between builders and bank officials that defrauded homebuyers. Most cases involve NCR projects under subvention schemes, where banks released loans without due diligence for projects that existed only on paper.
