New Delhi, June 8 (IANS) In its ongoing probe into alleged large-scale fraud against homebuyers, the Central Bureau of Investigation (CBI) has filed its 11th charge sheet in cases related to alleged cheating, diversion of funds and financial irregularities by real estate developers, an official statement said on Monday.The latest charge sheet has been filed against M/s Ninex Developers Ltd. and one of its Directors in connection with a housing project located in Gurugram, Haryana, the statement …
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New Delhi, May 29 (IANS) Intensifying its crackdown in the ongoing investigation into the Noida homebuyers cheating fraud investigation, the Central Bureau of Investigation (CBI) on Friday filed its tenth chargesheet against the builders, under the scanner for alleged cheating and fraud. The investigation agency filed a chargesheet against M/s Shubhkamna Buildtech Pvt. Ltd. and its directors on Friday, in connection with alleged fraudulent activities relating to a housing project in Greater Noid…
New Delhi, May 12 (IANS) The Central Bureau of Investigation (CBI) has unearthed an alleged nexus between a real estate developer and bank officials in a major homebuyers fraud case and filed its eighth charge sheet in connection with the matter, an official statement said on Tuesday.The charge sheet has been filed against M/s Logix City Developers Pvt. Ltd., its Directors, and officials of ICICI Bank and HDFC Bank for their alleged involvement in a criminal conspiracy linked to a housing projec…
New Delhi, April 14 (IANS) The Central Bureau of Investigation (CBI) registered 22 new cases based on the Supreme Court directions against various builders over their alleged nexus with officials of financial institutions and defrauding of homebuyers, an official said on Tuesday. The CBI conducted extensive searches at 77 locations spread across eight states/Union Territories in connection with these 22 cases, an official statement said.The searches were targeted at an alleged nexus between cert…
New Delhi, March 18 (IANS) The Enforcement Directorate (ED) has restored immovable properties worth about Rs 650 crore to 2,312 genuine homebuyers in connection with the money laundering probe against the SRS Group, officials said on Wednesday.The restitution was carried out following an order dated March 11 by the special Prevention of Money Laundering Act (PMLA) court in Gurugram, allowing the return of attached properties to legitimate claimants who had suffered losses due to the alleged frau…
Mumbai, March 4 (IANS) Shares of real estate major DLF Limited fell nearly 4 per cent on Wednesday after the Supreme Court of India ordered a probe by the Central Bureau of Investigation into alleged irregularities linked to the Primus DLF Garden City project.The stock declined 3.77 per cent to close at Rs 568.15, down Rs 22.25 from its previous close of Rs 590.40. It opened lower at Rs 575.05 and rose to an intra-day high of Rs 578.45 before falling to a low of Rs 563.20 during the session.The …
New Delhi, Feb 13 (IANS) The Supreme Court has orally expressed strong disapproval over the functioning of the Real Estate Regulatory Authority (RERA) in several states, remarking that it was “high time” that the governments revisited their decision to constitute the regulatory body.The observation came from a Bench of Chief Justice of India (CJI) Surya Kant and Justice Joymalya Bagchi as it heard a special leave petition (SLP) filed by the Himachal Pradesh government challenging an order of…
Ghaziabad, Jan 29 (IANS) The Enforcement Directorate (ED) filed a supplementary charge sheet before a Special Court in Ghaziabad against a builder accused of diverting Rs 126 crore collected from home buyers for a project in Sector-119 in Noida, an official said on Thursday. The ED’s Lucknow Zonal office filed the supplementary charge sheet under Section 44 and 45 read with Section 3, 4 and 70 of the Prevention of Money Laundering Act (PMLA), 2002, against Unnati Fortune Holdings Limited (UFHL) …
New Delhi, Jan 29 (IANS) Cracking the whip against errant builders, the Enforcement Directorate (ED) attached three properties worth Rs 15.40 crore in Farrukh Nagar in Haryana’s Gurugram district, owned by Savyasachi Infrastructure, which allegedly duped home buyers and failed in timely delivery of dwelling units after collecting booking amounts, an official said on Thursday. “The ED’s Gurugram Zonal Office has provisionally attached the three immovable properties under the provisions of Prevent…
New Delhi, Jan 17 (IANS) The ED searched multiple premises in Haryana, including those belonging to former MLA Mahendra Pratap Singh, in connection with a realtor’s Rs 600 crore fraud with home buyers and seized jewellery and bank balances amounting to more than Rs 5 crore, said an official on Saturday.Enforcement Directorate (ED), Gurugram Zonal Office, conducted search operations at Faridabad, Palwal and Bhiwadi under the PMLA, 2002, against the Piyush Group of Companies and its erstwhile Pr…