Noida (Uttar Pradesh) [India], May 8 : In a significant development in the ongoing investigation into large-scale cheating of homebuyers, the Central Bureau of Investigation (CBI) has filed a charge sheet against Shubhkamna Buildtech Pvt. Ltd. and its directors in connection with the alleged fraudulent activities relating to a housing project situated at Noida.
Investigation conducted by CBI has revealed that the accused builder company and its Directors, in furtherance of a criminal conspiracy, allegedly induced innocent homebuyers/investors through false assurances, misleading representations and deceptive promises, thereby dishonestly obtaining financial gains while causing wrongful loss to the victims.
Central Bureau of Investigation in a post on X said, "In the ongoing investigation into large-scale cheating of homebuyers, Central Bureau of Investigation (CBI) has filed a chargesheet against M/s Shubhkamna Buildtech Pvt. Ltd. and its Directors in connection with alleged fraudulent activities relating to a housing project at Noida."
The charge sheet has been filed before the competent Court under relevant provisions of the Indian Penal Code about criminal conspiracy, cheating, criminal breach of trust and abetment.
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.
According to a press release, earlier, CBI had filed 05 charge sheets in similar cases against M/s Rudra Buildwell Constructions Pvt. Ltd. and its Directors, M/s Dream Procon Pvt. Ltd. and its Directors, M/s Jaypee Infratech Ltd. and its Directors, M/s AVJ Developers (India) Pvt. Ltd. and its Directors alongwith officers of certain banks & financial institutions and M/s CHD Developers Pvt. Ltd. and its Directors.
CBI remains committed to ensuring accountability in cases involving economic offences, corruption and public fraud, particularly those adversely affecting the interests of common citizens and homebuyers.
Further investigation is underway.