In another significant development in the ongoing investigation into large-scale cheating of homebuyers, the Central Bureau of Investigation (CBI) has filed chargesheet against M/s Ajnara India Limited and its Promoters/ Directors and 15 Public Servants pertaining to ICICI Bank Limited, HDFC Bank Limited, PNB Housing Finance Limited and Sammaan Capital Limited in connection with alleged fraudulent activities relating to a housing Project “Ajnara Ambrosia” located at Plot No. GH-01, Sector-118, Noida, UP. The charge sheets have been filed before the Ld. Special Judge (CBI), Rouse Avenue District Courts, New Delhi.
Investigation conducted by the CBI has revealed that the accused builder company and its Promoters/ Directors, allegedly induced homebuyers/ investors through false assurances and fraudulent representations and obtained financial benefits by resorting to illegal and deceptive means.
The CBI is presently investigating another 34 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 19 charge sheets against M/s Rudra Buildwell Constructions Pvt. Ltd., M/s Dream ProconPvt. Ltd., M/s Jaypee Infratech Ltd., M/s AVJ Developers (India) Pvt. Ltd., M/s CHD Developers Pvt. Ltd., M/s Sequel BuildconPvt. Ltd., M/s Logix City Developers Pvt. Ltd., M/s Manju J Homes India Ltd., M/s Shubhkamna BuildtechPvt. Ltd., M/s Ninex Developers Ltd., M/s Decent BuildwellPvt. 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 and M/s Earthcon Universal Infratech Private Limited and also against the officials of certain banks and financial institutions.
Why case filed against bank employees?
In the Ajnara Ambrosia case, the CBI’s broader investigation concerns allegations that bank and financial-institution officials may have been involved in improper loan approvals or disbursements and other irregularities connected with the housing project. Earlier CBI investigation in these homebuyer cases alleged that officials of PNB Housing Finance, HDFC Bank, ICICI Bank and Indiabulls HFL (now Sammaan Capital) disbursed funds to Ajnara without proper due diligence and allegedly ignored applicable regulatory requirements.
