In another significant development in the ongoing investigation into large-scale cheating of homebuyers, the Central Bureau of Investigation (CBI) has filed a chargesheet against Shubhkamna Buildtech Pvt Ltd and its directors in connection with alleged fraudulent activities related to a housing project in Noida.
The investigation conducted by the CBI revealed that the accused builder company and its directors, in furtherance of a criminal conspiracy, allegedly induced innocent homebuyers and investors through false assurances, misleading representations and deceptive promises, thereby dishonestly obtaining financial gains while causing wrongful losses to the victims.
The chargesheet has been filed before the competent court under relevant provisions of the Indian Penal Code pertaining to criminal conspiracy, cheating, criminal breach of trust and abetment.
The CBI is currently investigating 50 cases registered pursuant to directions issued by 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.
Earlier, the CBI had filed five chargesheets in similar cases against Rudra Buildwell Constructions Pvt Ltd and its directors, Dream Procon Pvt Ltd and its directors, Jaypee Infratech Ltd and its directors, AVJ Developers (India) Pvt Ltd and its directors along with officials of certain banks and financial institutions, and Chandigarh Developers Pvt Ltd and its directors.
