The Central Bureau of Investigation (CBI) has lodged a fifth chargesheet against CHD Developers and its directors over accusations of deceiving homebuyers and engaging in fraudulent activities related to a housing project in Gurugram. The chargesheet, submitted in court, includes charges under relevant sections of the Indian Penal Code such as criminal conspiracy, cheating, and criminal breach of trust, as per a CBI statement.
According to the CBI’s investigation, the builder company and its directors allegedly lured homebuyers and investors into a criminal conspiracy by providing false assurances, misleading representations, and deceptive promises. This led to financial gains for the accused while causing financial harm to the victims. The CBI is actively probing 50 cases initiated by the Supreme Court against various builder companies and unidentified officials of financial institutions nationwide for suspected cheating and fund misappropriation involving homebuyers.
Previously, the CBI had filed four chargesheets in similar cases involving Rudra Buildwell Constructions, Dream Procon, Jaypee Infratech, and AVJ Developers (India) along with officials from certain banks and financial institutions. The investigation in a parallel case has uncovered substantial evidence pointing to a broader conspiracy involving the misuse of official positions, fund diversion, and fraudulent transactions with homebuyers.
The probe also highlighted the involvement of proxy or fictitious homebuyers who allegedly colluded with the builders to secure home loans by providing false information to banks, facilitating fund diversion. The CBI emphasized its commitment to ensuring accountability in cases of economic offenses, corruption, and public fraud, especially those impacting the interests of ordinary citizens and homebuyers.
