NEW DELHI: The CBI has submitted two chargesheets—one targeting Ithaca Estate Pvt Ltd and the other against LGCL Urban Homes (India) LLP—regarding significant fraud against homebuyers in Bengaluru, officials announced on Tuesday.
The central agency has implicated directors of the two companies, as well as officials from HDFC Bank Ltd, ICICI Bank Ltd, and Indiabulls Housing Finance Ltd, in connection with alleged fraudulent activities within a housing project, as stated by a CBI spokesperson.
“Both chargesheets have been filed in the designated CBI court in Bengaluru,” the spokesperson added.
Investigations suggest that the accused construction firms and their directors, in collusion with bank officials and other private individuals, allegedly misled homebuyers and investors through deceptive promises and obtained financial gains through illicit methods.
The statement further revealed, “The investigation has uncovered substantial evidence, and the chargesheet has been submitted to the competent court under relevant sections of the Indian Penal Code addressing criminal conspiracy, abuse of official position, cheating, and criminal breach of trust, as well as provisions of the Prevention of Corruption Act.”
Additionally, the CBI is probing 34 more cases directed by the Supreme Court against various construction companies and unidentified officials from financial institutions nationwide relating to alleged fraud and fund diversion.
The CBI has already filed 13 chargesheets in these matters, according to the statement.
