Bank-builder ‘nexus’ duping homebuyers in NCR: Top court allows CBI to register 22 cases

The order came on a batch of petitions filed by over 1,200 homebuyers, who booked flats under subvention plans in various housing projects in NCR, especially Noida, Greater Noida and Gurugram. They had alleged that they were being forced by banks to pay EMIs though they have still not been granted possession of their flats by the builders.

The CBI, in a sealed cover status report to the court, submitted on Tuesday that six of the preliminary inquiries had been completed and requested that it be allowed to register 22 regular cases for further investigation.

The court accepted the request. “We accept the recommendation and the CBI shall accordingly register regular cases and proceed in accordance with law,” it said, adding that the agency can approach it for any further orders.

Noting that CBI’s seventh preliminary inquiry – regarding projects of builders other than Supertech Limited in Mumbai, Bengaluru, Kolkata, Mohali and Allahabad – is still underway, the SC granted six weeks to the central agency to complete its probe.

The bench asked Additional Solicitor General Aishwarya Bhati, who appeared for CBI, to share extracts of the report as “deemed necessary” with amicus curiae advocate Rajiv Jain. It also urged the CBI to go through Jain’s report, which it pointed out underscores the need for more transparency in dealings with authorities like the RERA.

The SC noted that the CBI team had examined over 1,000 people and visited 58 project sites so far during the probe and lauded the agency for its hard work.

Meanwhile, expressing doubts over “coercive” orders issued by a Gurugram court for recovery of money from homebuyers in cheque bounce cases, the SC termed it a serious matter, and asked the district and sessions judge to conduct a fact-finding inquiry and submit a report in 10 days.”We are getting a lot of information about the Gurugram trial court. We will look into it and see what can be done,” the court said.