CBI files 21st Chargesheet against Promoters of Builder Company in Homebuyers Fraud Cases
The Central Bureau of Investigation (CBI) has filed a chargesheet against five erstwhile Promoters/ Directors of M/s Acme Realties Private Limited and its holding company, M/s Acme Housing India Private Limited, in connection with alleged fraudulent activities relating to the housing project “Acme Boulevard” located at Village Majas, Sarvodaya Nagar, Jogeshwari (East), Mumbai. The chargesheet has been filed before the Ld. ACJM (CBI Cases), 3rd Court, Esplanade Court, Mumbai.
The cases are related to people who paid for flats/houses, often took home loans, but allegedly did not get the homes or financial treatment they were promised. Many homebuyers booked flats and paid large amounts of money, often with the help of bank loans. Builders allegedly promised to complete the projects and hand over the flats within a certain period.
However, in several cases, the projects were delayed for years or were not completed as promised. There are allegations that banks disbursed loan amounts to builders without proper verification. Under the scheme, the builder was supposed to pay the loan interest to the banks until the flats were handed over to the customers. However, the builders allegedly failed to make these payments, and the banks started asking the homebuyers to pay the loan EMIs.
The Investigation conducted by the CBI revealed that the accused Builder Company and its Promoters/ Directors allegedly induced homebuyers through false assurance and fraudulent representation and obtained financial benefits by resorting to illegal and deceptive means.
The investigation discovered substantial evidence, and the chargesheet has been filed before the competent Court under relevant provisions of Indian Penal Code pertaining to criminal conspiracy, cheating, criminal breach of trust and dishonest receipt of stolen property.
The CBI is presently investigating another 32 cases registered pursuant to the directions of the Hon’ble Supreme Court against various builder companies and unknown officials of financial institutions across the country in matters concerning alleged cheating and diversion of funds involving homebuyers.
The CBI had, earlier, filed 20 charge sheets against M/s Rudra Buildwell Constructions Pvt. Ltd., M/s Dream Procon Pvt. Ltd., M/s Jaypee Infratech Ltd., M/s AVJ Developers (India) Pvt. Ltd., M/s CHD Developers Pvt. Ltd., M/s Sequel Buildcon Pvt. Ltd., M/s Logix City Developers Pvt. Ltd., M/s Manju J Homes India Ltd., M/s Shubhkamna Buildtech Pvt. Ltd., M/s Ninex Developers Ltd., M/s Decent Buildwell Pvt. Ltd., M/s Rudra Buildwell Projects Pvt. Ltd., M/s Ithaca Estate Pvt. Ltd., M/s LGCL Urban Homes (India) LLP, M/s Saha Infratech Pvt. Ltd., M/s MKHS Housing LLP, M/s Ozone Urbana Infra Developers Pvt. Ltd., M/s Earthcon Universal Infratech Pvt. Ltd. and M/s Ajnara India Ltd., and also against the officials of certain banks and financial institutions.
