New Delhi: The Central Bureau of Investigation (CBI) has intensified its probe into an alleged builder-financier nexus linked to the cheating and defrauding of homebuyers. On September 10, the agency conducted searches at 12 locations across Bengaluru, Mumbai and Pune after registering five fresh cases against real estate developers and others.
According to
the CBI, four cases involve Ozone Group and its related entities in connection
with projects in Bengaluru and Mumbai, while another case concerns Vivansaa
Baalsam and its Bengaluru project. Officials associated with various financial
institutions have also been booked in the cases for alleged offences including
criminal conspiracy, cheating, criminal breach of trust and criminal
misconduct.
The
searches, conducted as part of a wider investigation following directions from
the Supreme Court, resulted in the seizure of documents, digital devices and
other materials that the agency said are being examined as evidence.
The latest
five FIRs take the total number of cases registered by the CBI against builders
in the broader probe to 55. The agency said the investigation is focused on
alleged diversion of funds, financial irregularities and fraudulent practices
affecting homebuyers.
The
development highlights the importance of financial transparency and regulatory
compliance in the real estate sector, while also drawing attention to the
concerns faced by homebuyers in delayed or financially troubled housing
projects.
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