Tag: Ninex Developers Ltd

Latest StoriesRegulatory

ED Raids Builders in Delhi-NCR Over ‘Subvention Scheme’ Fraud

NEW DELHI: The Enforcement Directorate (ED) conducted searches at various locations in Delhi-NCR on Wednesday as part of a money laundering investigation linked to alleged fraud involving homebuyers with subvention schemes, officials reported. At least five premises associated with three companies—CHD Developers Ltd., Ninex Developers Ltd., and Manju J Homes (India) Ltd.—were raided under the Prevention of Money Laundering Act (PMLA). The companies were not immediately reachable for comment. The ED’s investigation arises from three FIRs filed by the Central Bureau of Investigation (CBI) in 2025 under the Supreme Court’s direction. The CBI found that builders allegedly misled homebuyers and…

Latest StoriesRegulatory

CBI Charges Ninex Developers and Director in Builder-Bank Case

NEW DELHI: The Central Bureau of Investigation (CBI) has charged real estate company Ninex Developers Ltd and its director for alleged fraud in a housing project based in Gurugram, according to official reports released on Monday. This marks the CBI’s 11th report related to builder-banker collusion, where numerous homeowners have been misled by false assurances. According to the charge sheet, the director of Ninex Developers purportedly deceived homebuyers and investors with misleading claims, profiting at their expense. The Supreme Court, on April 29, 2025, directed the CBI to initiate several preliminary inquiries into builders in the National Capital Region (NCR),…