New Delhi, Sept 10: The Central Bureau of Investigation (CBI) on Thursday registered five new criminal cases against builders and officials of financial institutions following directions of the Supreme Court and carried out searches at 12 locations in Bengaluru, Mumbai and Pune.
The cases include four against Ozone Group and its related entities concerning projects in Bengaluru and Mumbai, and one against M/s Vivansaa Baalsam in connection with its Bengaluru project. Unknown officials of various financial institutions have also been booked.
The CBI is probing allegations of criminal conspiracy, cheating, criminal breach of trust and misconduct by financial institution officials, with the alleged nexus between builders and financial institutions said to have resulted in homebuyers being cheated and defrauded.
Searches led to the seizure of incriminating documents, digital devices and other material, which are now being examined by investigators.
The agency said the investigation is focused on alleged diversion of funds, financial irregularities and fraudulent practices in the real estate sector. A large number of affected homebuyers have approached the Supreme Court seeking relief over alleged fraudulent activities by builders.
With the latest five cases, the CBI said it has now registered 55 cases against builders across India on the directions of the Supreme Court, including 50 cases registered earlier.
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