The Central Bureau of Investigation (CBI) has intensified its crackdown on the Noida homebuyers cheating fraud case by filing its tenth chargesheet against the builders. The chargesheet was filed against M/s Shubhkamna Buildtech Pvt. Ltd. and its directors for alleged fraudulent activities related to a housing project in Greater Noida.
In its investigation, the CBI discovered serious wrongdoings by the builder, accusing them of deceiving homebuyers/investors through false assurances and misleading representations. The agency stated that the builder company and its directors gained financial benefits through deceptive practices, causing financial harm to the victims.
The chargesheet, filed under relevant provisions of the Indian Penal Code (IPC) for criminal conspiracy, cheating, and criminal breach of trust, was based on substantial evidence uncovered during the investigation. The CBI is currently probing 50 cases nationwide involving alleged cheating and fund diversion by builder companies and financial institution officials.
The CBI has previously filed nine chargesheets against various builders and real estate developers, including M/s Rudra Buildwell Constructions Pvt. Ltd., M/s Dream Procon Pvt. Ltd., and others. The agency reaffirmed its dedication to ensuring accountability in economic offenses and protecting the interests of common citizens and homebuyers.
