Now Reading: Supreme Court says realtor settlements will not halt CBI probes
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Supreme Court says realtor settlements will not halt CBI probes
The Supreme Court has said builders cannot avoid CBI investigations into alleged cheating and diversion of homebuyers’ money by settling with some purchasers. Investigations will continue until every affected buyer receives a…
The Story in Brief
The Supreme Court has said builders cannot avoid CBI investigations into alleged cheating and diversion of homebuyers’ money by settling with some purchasers. Investigations will continue until every affected buyer receives a flat or refund, the Times of India reports. The court also directed State Bank of India, Bank of India, Uco Bank, HDFC and ICICI to decide within two weeks on prosecution sanctions for officials allegedly linked to builders.
The CBI has completed investigations in 18 of 50 cases registered on the court’s orders, filing 17 chargesheets and one closure report. The court asked the agency to share money-trail documents with the Enforcement Directorate and ordered probes into several builders and related banking institutions. It also directed five states to send personnel to support the investigations.
The Indian Opinion
The easy narrative that a few private settlements resolve a failed housing project is plainly inadequate, but blanket blame on every banker or builder is just as lazy. Each allegation still needs evidence, a documented money trail and a fair trial. The practical test is whether the remaining buyers receive homes or refunds, and whether the banks provide prosecution sanctions within the court’s two-week deadline.
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
