CBI Cracks Down on Builders-Financial Institutions Nexus

The CBI is investigating a nexus between builders and financial institutions as part of a Supreme Court-directed probe. Searches were conducted across multiple cities, targeting cases involving homebuyers being duped through the subvention scheme. The investigation covers incidents in the NCR and various major cities nationwide.

The Central Bureau of Investigation (CBI) launched extensive searches across 77 locations in eight states as part of an investigation into the alleged nexus between builders and financial institutions. This probe, following the direction of the Supreme Court, aims to uncover fraudulent activities in the real estate sector.

The CBI's search operations encompassed key cities including Delhi, Chennai, Puducherry, and Bengaluru. This follows an order by the Supreme Court on April 29, 2025, which instructed the CBI to pursue preliminary enquiries against builders in the National Capital Region (NCR), notably targeting Supertech Limited, among others.

Furthermore, last September, the apex court gave clearance for the CBI to register additional cases probing alleged collusion between banks and developers aiming to deceive homebuyers. The investigations now extend to real estate ventures in prominent cities such as Mumbai, Bengaluru, Kolkata, Mohali, and Prayagraj.

(With inputs from agencies.)