CBI files 2 chargesheets in homebuyers' fraud cases

New Delhi, Jul 7 (PTI) The CBI has filed two chargesheets -- one against Ithaca Estate Pvt Ltd and another against LGCL Urban Homes (India) LLP -- in sperate cases of large-scale cheating of homebuyers in Bengaluru, officials said Tuesday. The central agency has also named directors of the two companies and officials of HDFC Bank Ltd, ICICI Bank Ltd and Indiabulls Housing Finance Ltd in the case related to alleged fraudulent activities in a housing project, a CBI spokesperson said in a statement. "Both the chargesheets have been filed in respective concerned court of CBI cases at Bengaluru," the spokesperson said. The agency official said investigation has revealed that the accused builder company and its directors, in conspiracy with bank officials and other private persons, allegedly induced homebuyers/investors through false assurances and fraudulent representations and obtained financial benefits by resorting to illegal and deceptive means. "The investigation unearthed substantial evidence and the chargesheet has been filed before the competent court under relevant provisions of the Indian Penal Code pertaining to criminal conspiracy, abuse of official position, cheating and criminal breach of trust and provisions of Prevention of Corruption Act," the statement said The agency is investigating another 34 cases on the directions of the Supreme Court against various builder companies and unknown officials of financial institutions across the country related to alleged cheating and diversion of funds. The CBI had so far filed 13 chargesheets in these cases, the statement said. PTI ABS ABS KVK KVK