Tag: builder-banker nexus

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CBI Files Chargesheet in Ozone Urbana Homebuyers’ Fraud Case

NEW DELHI: The CBI has filed a charge sheet against Ozone Urbana Infra Developers Pvt Ltd and its director in relation to alleged builder-banker nexus scams, where numerous home buyers were reportedly deceived by exaggerated promises made during the purchase of their apartments, officials announced on Friday. The CBI submitted its 17th charge sheet regarding the scam before the Special Court in Bengaluru, targeting the builder for “alleged fraudulent activities” connected to a housing project in the city. A CBI spokesperson stated, “Our investigation has uncovered that the accused builder company and its director engaged in a criminal conspiracy to…

Latest StoriesRegulatory

CBI Files Fifth Chargesheet in Builder-Banker Nexus Case

NEW DELHI: The Central Bureau of Investigation (CBI) has submitted a fifth chargesheet in connection with the builder-banker nexus involving CHD Developers Ltd and its directors for alleged fraudulent activities linked to a project in Gurugram, as reported by officials on Thursday. The CBI, assigned these cases by the Supreme Court, detailed in its report to the court that the company used misleading representations and deceptive promises to attract “innocent homebuyers and investors,” ultimately resulting in considerable financial gains while inflicting wrongful losses. “The charge sheet has been filed before the appropriate court under the relevant sections of the Indian…