{"id":4796,"date":"2025-09-23T09:44:08","date_gmt":"2025-09-23T09:44:08","guid":{"rendered":"https:\/\/riyasatnamanews.in\/index.php\/2025\/09\/23\/supreme-court-cbi-six-more-cases-builder-bank-fraud\/"},"modified":"2025-09-23T09:44:08","modified_gmt":"2025-09-23T09:44:08","slug":"supreme-court-cbi-six-more-cases-builder-bank-fraud","status":"publish","type":"post","link":"https:\/\/riyasatnamanews.in\/index.php\/2025\/09\/23\/supreme-court-cbi-six-more-cases-builder-bank-fraud\/","title":{"rendered":"Supreme Court Allows CBI to Register 6 More Cases Against Builder-Bank Fraud"},"content":{"rendered":"<p>The <strong>Supreme Court of India<\/strong> has approved the <strong>Centrals Bureau of Investigation (CBI)<\/strong> to register six more cases against prominent banks and builders involved in duping homebuyers through real estate scams across multiple cities, including <strong>Mumbai<\/strong>, <strong>Bengaluru<\/strong>, <strong>Kolkata<\/strong>, <strong>Mohali<\/strong>, and <strong>Prayagraj<\/strong>. This ruling came on Tuesday when a bench comprised of Justices Surya Kant, Ujjal Bhuyan, and N Kotiswar Singh acknowledged the progress made by the CBI in its preliminary investigation into the alleged \u201cunholy nexus\u201d in the real estate sector.<\/p>\n<p>The CBI&#8217;s Additional Solicitor General, <strong>Aishwarya Bhati<\/strong>, indicated that the agency had conducted thorough inquiries into several builders, excluding <strong>Supertech Ltd<\/strong>, which operates outside the <strong>Delhi-NCR region<\/strong>. The Supreme Court allowed the registration of these cases after the CBI highlighted that substantial evidence of cognisable offences had emerged from the preliminary investigations.<\/p>\n<p>Justice Surya Kant emphasized the need for a swift investigation, directing the CBI to proceed with the search and seizure operations concerning the implicated builders. Furthermore, the court mandated that CBI share selected portions of a sealed report with <strong>amicus curiae<\/strong> advocate Rajiv Jain, enhancing the transparency of the judicial process.<\/p>\n<p>Previously, on July 22, the Supreme Court permitted the registration of 22 cases linked to the same fraudulent activities impacting homebuyers in the <strong>Delhi-NCR<\/strong>. The court had granted six weeks for the CBI to conduct preliminary inquiries regarding projects beyond the capital.<\/p>\n<p>The <strong>22 cases<\/strong> pertain to builders and development authorities across <strong>Uttar Pradesh<\/strong> and <strong>Haryana<\/strong>. Under a controversial subvention scheme, banks released funds directly to builders&#8217; accounts, with the expectation that builders would pay EMIs until buyers received the possession of their flats. However, many builders defaulted, leading banks to pursue homebuyers for EMIs, despite them not having received their purchased properties.<\/p>\n<p>Currently, over 1,200 homebuyers have filed petitions with the Supreme Court, claiming that they are being unfairly compelled to repay loans for properties they do not yet occupy. The court&#8217;s focus has increasingly turned towards the disturbing trends in the real estate market, where banks, public officials, and real estate developers appear to be colluding.<\/p>\n<p>On March 29, the Supreme Court had already initiated five preliminary inquiries into builders\u2019 activities in regions like Noida and Greater Noida, with one separate inquiry against Supertech Ltd. Reports indicate that 799 homeowners lodged appeals against Supertech Ltd., citing multiple discrepancies involving eight different housing projects spread across various cities.<\/p>\n<p>Moreover, on July 22, the court reviewed CBI findings presented in a sealed cover, which documented instances of significant fraud that warranted more intensive investigations. The amicus curiae previously identified Supertech Ltd as a key offender, revealing that the entity had received loans exceeding <strong>Rs 5,157.86 crore<\/strong> since 1998, while Corporation Bank alone disbursed over <strong>Rs 2,700 crore<\/strong> directly linked to subvention agreements with builders.<\/p>\n<p>The Supreme Court\u2019s efforts to address this serious housing fraud reflect its endorsement of consumer rights and its demand for corporate accountability within India\u2019s real estate sector. The legal proceedings underscore the court&#8217;s dedication to ensuring justice for thousands of homebuyers caught in the crossfire of corporate mismanagement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Supreme Court greenlights six additional CBI cases linked to bank-builder fraud, aiming to protect homebuyers in major Indian cities from ongoing real estate scams.<\/p>\n","protected":false},"author":1,"featured_media":4795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-4796","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Supreme Court Allows CBI to Register 6 More Cases Against Builder-Bank Fraud - Riyasatnama News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/riyasatnamanews.in\/index.php\/2025\/09\/23\/supreme-court-cbi-six-more-cases-builder-bank-fraud\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Supreme Court Allows CBI to Register 6 More Cases Against Builder-Bank Fraud - 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