In a significant development, the Central Bureau of Investigation (CBI) has lodged its 16th chargesheet in the investigation of a large-scale homebuyer fraud case. The chargesheet targets M/s Saha Infratech Pvt Ltd, its director, and officials from HDFC Bank Ltd and ICICI Bank Ltd for their alleged involvement in fraudulent activities related to a housing project in Noida. The chargesheet has been submitted at the Rouse Avenue District Court in New Delhi.
The CBI’s probe uncovered a scheme where the accused builder company and its director collaborated with bank officials and others to deceive homebuyers and investors with false promises and misleading information. The accused are accused of illicitly gaining financially through deceptive methods. The chargesheet, based on substantial evidence, includes offenses under the Indian Penal Code and the Prevention of Corruption Act, such as criminal conspiracy, abuse of official position, cheating, and criminal breach of trust.
The CBI is actively investigating 33 other cases as directed by the Supreme Court against various builder companies and unidentified officials of financial institutions nationwide. These cases involve allegations of defrauding homebuyers and diverting funds. The agency has already filed 15 chargesheets against multiple real estate firms, their directors, and officials of certain banks and financial institutions, as part of its commitment to ensuring accountability in cases of economic offenses, corruption, and public fraud that impact common citizens and homebuyers negatively.
