SC Approves CBI to Register 22 Cases in NCR Builders-Banks Nexus
NEW DELHI: On Tuesday, the Supreme Court permitted the CBI to file 22 cases regarding the “unholy nexus” between banks and developers accused of deceiving homebuyers in the NCR. A bench led by Justices Surya Kant and N. Kotiswar Singh authorized the CBI to transition six preliminary inquiries against various builders and banks into 22 formal cases, similar to FIRs, for further investigation. Entities under scrutiny include builders in NCR and development authorities in Uttar Pradesh and Haryana. According to the subvention scheme, banks disburse approved amounts directly to builders, who must pay EMIs on these loans until they deliver…