The Central Bureau of Investigation (CBI) has filed its 11th charge sheet in the ongoing probe related to alleged fraud against homebuyers by real estate developers. The latest charge sheet targets M/s Ninex Developers Ltd. and one of its Directors for their involvement in a housing project in Gurugram, Haryana. The CBI’s investigation uncovered that the accused company and its Director enticed homebuyers and investors through false assurances and deceptive promises, leading to financial losses for the victims.
The CBI accused the builder company and its Director of engaging in a criminal conspiracy to induce buyers to invest significant amounts of money under misleading representations. This resulted in financial gains for the accused while causing substantial losses to the victims. The investigation revealed irregularities in the collection and utilization of funds from homebuyers, prompting the CBI to file the charge sheet under relevant sections of the Indian Penal Code, including criminal conspiracy, cheating, and criminal breach of trust.
This case is part of a broader investigation by the CBI into alleged fraud by real estate companies and financial institutions. The agency is currently looking into 50 cases following the Supreme Court’s directives regarding allegations of cheating homebuyers, fund diversion, and suspected involvement of officials from banks and financial institutions nationwide. Previously, the CBI had filed charge sheets against various builder companies and directors, including M/s Rudra Buildwell Constructions Pvt. Ltd., M/s Dream Procon Pvt. Ltd., and others.
