The Central Bureau of Investigation (CBI) has filed its 11th charge sheet in an ongoing probe into an alleged large-scale homebuyers’ fraud case, naming a real estate company and one of its directors in connection with a housing project in Gurugram, Haryana.
According to the agency, the latest charge sheet has been filed against M/s Ninex Developers Ltd. and one of its directors. The filing forms part of a broader investigation into allegations of cheating, diversion of funds and financial irregularities involving real estate developers.
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Allegations of Misleading Homebuyers
The CBI said its investigation found that the builder company and its director, acting in furtherance of an alleged criminal conspiracy, lured homebuyers and investors through false assurances, misleading representations and deceptive promises related to the housing project.
The agency alleged that prospective buyers were dishonestly induced to invest substantial amounts of money. According to investigators, the actions resulted in wrongful financial gains for the accused while causing significant losses to victims.
Evidence Leads to Fresh Charge Sheet
Officials said the investigation has uncovered substantial documentary and oral evidence indicating irregularities in the collection and utilisation of funds raised from homebuyers.
Based on the findings, the CBI filed the charge sheet before the competent court under relevant provisions of the Indian Penal Code relating to criminal conspiracy, cheating and criminal breach of trust.
The agency noted that the case is part of a wider inquiry into alleged fraud involving real estate companies and financial institutions.
Wider Probe Covers Multiple Cases
The CBI said it is currently investigating 50 cases registered pursuant to directions issued by the Supreme Court. These cases concern allegations of cheating of homebuyers, diversion of funds and the suspected involvement of unidentified officials of banks and financial institutions across the country.
The agency has previously filed charge sheets against several builder companies and their directors, including M/s Rudra Buildwell Constructions Pvt. Ltd., M/s Dream Procon Pvt. Ltd., M/s Jaypee Infratech Ltd., M/s AVJ Developers (India) Pvt. Ltd., M/s CHD Developers Pvt. Ltd., M/s Sequel Buildcon Pvt. Ltd., M/s Logixcity Developers Pvt. Ltd., M/s Manju J Homes India Ltd. and M/s Shubhkamna Buildtech Pvt. Ltd.
The latest filing marks another step in the CBI’s continuing investigation into alleged irregularities in the real estate sector and complaints raised by affected homebuyers.
