Now Reading: CBI files 18th chargesheet in West Bengal homebuyers fraud case
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CBI files 18th chargesheet in West Bengal homebuyers fraud case
The CBI has filed its 18th chargesheet in a large-scale homebuyers fraud case, naming builder MKHS Housing LLP, its partner Indiabulls Nests Limited (formerly Indiabulls Distribution Services Limited), and directors of Indiabulls…
The CBI has filed its 18th chargesheet in a large-scale homebuyers fraud case, naming builder MKHS Housing LLP, its partner Indiabulls Nests Limited (formerly Indiabulls Distribution Services Limited), and directors of Indiabulls Urban Residency Limited. Officials of a non-banking financial company (NBFC) have also been named for allegedly conspiring to induce homebuyers through false assurances and obtaining financial benefits by deceptive means.
The chargesheet was filed before the CBI Special Court in Alipore, North 24 Parganas, West Bengal, under IPC sections on criminal conspiracy, cheating, and criminal breach of trust. The CBI said its investigation has unearthed substantial evidence in the case, which concerns a housing project in Rajarhat. The agency is also investigating 31 other cases registered on the Supreme Court's directions against builder companies and financial institution officials for alleged homebuyer cheating and fund diversion.
Indian Opinion Analysis
This is the latest in a series of cases that stem from a Supreme Court-monitored probe into fraud in the real estate sector, where homebuyers were left stranded after developers defaulted on projects. The CBI has now filed 18 chargesheets in this single cluster, indicating a broad web of entities under scrutiny. The inclusion of NBFC officials points to the regulator's focus on collusion between builders and lenders in diverting homebuyer funds. The agency is still investigating 31 more cases, meaning the final tally of chargesheets and accused could grow significantly. The next step will be the court's framing of charges based on the evidence presented.
Source: realty.economictimes.indiatimes.com
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