Tag: Central Bureau of Investigation

Latest StoriesRegulatory

CBI Examines Ozone Projects, Bankers in Homebuyer Scam

CHENNAI: The Metrozone project in Koyambedu is now under investigation by the Central Bureau of Investigation (CBI) for alleged misconduct involving the subvention scheme and fraudulent actions toward homebuyers through a bank-developer collusion. The CBI’s economic offences wing in Delhi has filed a case against Ozone Projects Pvt Ltd, which is behind the Metrozone project, along with its promoters, directors, and unnamed officials from Axis Bank Ltd and Axis Finance Ltd, interpreting the situation as fraud and corruption as directed by the Supreme Court. The FIR indicates that Ozone Projects’ directors, currently undergoing the Corporate Insolvency Resolution Process (CIRP), allegedly…

Latest StoriesRegulatory

SC Denies Time Extension for DHFL Promoter’s Surrender

The Supreme Court declined to extend the deadline for Dheeraj Wadhawan, former promoter of Dewan Housing Finance Corporation, to surrender in connection with a bank loan fraud case. Previously, on August 5, the apex court dismissed the medical bail granted by the Delhi High Court last September and mandated his surrender within two weeks. Wadhawan is implicated in a substantial bank loan fraud exceeding ₹34,000 crores, reportedly the most significant case of its kind in India. “We are not willing to extend the surrender timeline as requested by Wadhawan. However, acknowledging his potential need for medical care as per reports…