Face2News/Noida
In another significant development in the ongoing investigation into large-scale cheating of homebuyers, the Central Bureau of Investigation (CBI) has filed a charge sheet against M/s Shubhkamna Buildtech Pvt. Ltd. and its Directors in connection with alleged fraudulent activities relating to a housing project situated at Greater Noida.
Investigation conducted by CBI has revealed that the accused builder company and its Directors, in furtherance of a criminal conspiracy, allegedly induced innocent homebuyers/investors through false assurances, misleading representations and deceptive promises, thereby dishonestly obtaining financial gains while causing wrongful loss to the victims.
The investigation unearthed substantial evidence and the charge sheet has been filed before the competent Court under relevant provisions of the Indian Penal Code pertaining to criminal conspiracy, cheating and criminal breach of trust.
The CBI is presently investigating 50 cases registered pursuant to the directions of the Hon’ble Supreme Court against various builder companies and unknown officials of financial institutions across the country in matters concerning alleged cheating and diversion of funds involving homebuyers.
Earlier, CBI had filed 09 charge sheets against M/s Rudra Buildwell Constructions Pvt. Ltd., M/s Dream Procon Pvt. Ltd., M/s Jaypee Infratech Ltd., M/s AVJ Developers (India) Pvt. Ltd., M/s CHD Developers Pvt. Ltd., M/s Shubhkamna Buildtech Pvt. Ltd., M/s Sequel Buildcon Pvt. Ltd., M/s Logix City Developers Pvt. Ltd. and M/s Manju J Homes India Ltd. and their Directors and also against the officials of certain banks and financial institutions.
CBI reiterates its commitment to ensuring accountability in cases involving economic offences, corruption and public fraud, particularly matters adversely impacting the interests of common citizens and homebuyers.
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