The Central Bureau of Investigation (CBI) has filed a chargesheet against real estate firm Ninex Developers Ltd and its director in connection with alleged fraudulent activities related to a housing project in Gurugram, officials said on Monday.
This makes CBI’s 11th report in the builder-banker nexus cases in which thousands of homeowners were cheated through deceptive promises.
In its chargesheet, CBI said the company’s director allegedly persuaded homebuyers and investors through false assurances and misleading representations, thus making financial gains at their cost.
The builders-financial institutions nexus case was handed over to CBI by the Supreme Court, which on April 29, 2025, directed the agency to register seven preliminary enquiries against builders in the National Capital Region (NCR).
Later in the year, the court directed it to register FIRs in cases where homebuyers were duped through the subvention scheme.
“CBI is presently investigating 50 cases registered pursuant to the directions of the Supreme Court against various builder companies and unknown officials of financial institutions across the country in matters concerning alleged cheating and diversion of funds involving homebuyers,” a CBI spokesperson said in a statement.
The agency had earlier filed charge sheets against Rudra Buildwell Constructions Pvt Ltd, Dream Procon Pvt Ltd, Jaypee Infratech Ltd, AVJ Developers (India) Pvt Ltd, Chandigarh Developers Pvt Ltd, Sequel Buildcon Pvt Ltd, Logix City Developers Pvt Ltd, Manju J Homes India Ltd, Shubhkamna Buildtech Pvt Ltd and their directors, and also against the officials of certain banks and financial institutions, the statement said.
