The Central Bureau of Investigation (CBI) has filed a seventh chargesheet against Sequal Buildtech Pvt Ltd and its directors in connection with alleged fraudulent activities relating to a housing project in Noida.
The investigation has 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 loss to the victims, the agency said.
The chargesheet has been filed before the competent court under relevant provisions of the Indian Penal Code pertaining to criminal conspiracy, cheating and criminal breach of trust, the CBI said in a statement.
The agency is currently investigating 50 cases registered on 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.
