SC allows CBI to register more cases in builder-bank nexus

New Delhi [India], September 23 (ANI): The Supreme Court on Tuesday allowed the Central Bureau of Investigation (CBI) to register six more cases into the matter involving allegations of a builder-bank nexus and loan fraud against homebuyers in Delhi-NCR and other states.

A bench of Justices Surya Kant, Ujjal Bhuyan and N Kotiswar Singh allowed the CBI to proceed as per law after Additional Solicitor General Aishwarya Bhati, appearing for the agency, mentioned the matter.

Bhati mentioned that CBI has completed preliminary inquiry in projects of the various builders except Supertech Ltd, falling outside Delhi-NCR in Mumbai, Bengaluru, Kolkata, Mohali and Prayagraj.

The apex court took into note the submission of the CBI that, after preliminary inquiry, it has found a cognisable offence being made out and allowed the agency to register cases and proceed according to law.

The order was passed in a batch of petitions filed by over 1,200 homebuyers alleging large-scale collusion between builders and financial institutions in housing projects across NCR region and other states.

In April, the apex court had ordered the CBI to conduct seven separate preliminary enquiries into what it then described as an unholy nexus between banks and developers to dupe homebuyers in real estate projects. (ANI)

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