CBI FILES 18TH CHARGESHEET AGAINST BUILDER COMPANY AND ITS DIRECTORS, OFFICIALS IN THE HOMEBUYERS FRAUD CASES

Face2News/ajarhat Town Area, North 24 Parganas (West Bengal)

In another significant development in the ongoing investigation into large-scale cheating of homebuyers, the Central Bureau of Investigation (CBI) has filed charge-sheet against M/s. MKHS Housing LLP, its designated partner, M/s. Indiabulls Distribution Services Limited (presently known as M/s  Indiabulls Nests Limited), and its directors/ officials, as well as M/s. Indiabulls Investment Advisors Limited (presently known as M/s. Indiabulls Urban Residency Limited), and its directors in connection with alleged fraudulent activities relating to a housing project situated at Rajarhat Town Area, North 24 Parganas, West Bengal. The charge sheets have been filed before the CBI (Special) Court-II, Alipore, North 24 Parganas, West Bengal.

Investigation conducted by the CBI has revealed that the accused builder company and its Directors, in conspiracy with NBFC officials, allegedly induced homebuyers/investors through false assurances and fraudulent representations and obtained financial benefits by resorting to illegal and deceptive means.

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, abetment, cheating and criminal breach of trust

CBI is presently investigating another 31 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.

CBI had earlier filed 17 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 Sequel Buildcon Pvt. Ltd., M/s Logix City Developers Pvt. Ltd., M/s Manju J Homes India Ltd., M/s Shubhkamna Buildtech Pvt. Ltd., M/s Ninex Developers Ltd., M/s Decent Buildwell Pvt. Ltd. ,M/s Rudra Buildwell Projects Pvt. Ltd. , M/s Ithaca Estate Pvt. Ltd. M/s LGCL Urban Homes (India) LLP, M/s Saha Infratech Pvt. Ltd. and M/S Ozone Urbana Infra Developers Pvt 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.