Homebuyers' fraud case: CBI files 16th chargesheet against Noida builder, bank officials

New Delhi, Jul 14 (PTI) The CBI has filed its 16th chargesheet in the ongoing investigation into alleged large-scale homebuyers' fraud cases, accusing a Noida-based real estate company and officials of two private sector banks of conspiring to cheat buyers and investors through fraudulent means, officials said on Tuesday. The chargesheet has been filed before the Special Judge for Central Bureau of Investigation (CBI) cases at the Rouse Avenue District Court in New Delhi, an official statement said. The CBI said it has chargesheeted "Saha Infratech Pvt. Ltd., its director and officials of HDFC Bank Ltd. and ICICI Bank Ltd. in connection with alleged fraudulent activities relating to a housing project situated at Noida.” The investigation 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 agency said. The CBI said it has unearthed substantial evidence during the probe and filed the chargesheet under relevant provisions of the Indian Penal Code and the Prevention of Corruption Act pertaining to "criminal conspiracy, abuse of official position, cheating and criminal breach of trust." According to the agency, it is presently investigating another 33 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. Several builder companies, including Rudra Buildwell Constructions Pvt. Ltd., Dream Procon Pvt. Ltd., Jaypee Infratech Ltd. and others, along with their directors and officials of certain banks and financial institutions, have been named in previous chargesheets, the CBI said. PTI MHS SKY SKY