CBI raids 12 locations in Kolkata, Bengaluru and Mumbai over builder fraud allegations

Homebuyers approached the Supreme Court and leveled serious allegations against builders and developers. They claimed that not only were they defrauded by builders, but financial institutions also resorted to extortion.

New Delhi: The CBI raided 12 locations in Kolkata, Bengaluru, and Mumbai on Saturday. This action was taken on the instructions of the Supreme Court. The agency took this action based on FIRs registered in six separate cases. The allegation is that some builders and officials of financial institutions colluded to defraud and defraud homebuyers.

Homebuyers Level Serious Allegations

Homebuyers approached the Supreme Court and leveled serious allegations against builders and developers. They claimed that not only were they defrauded by builders, but financial institutions also resorted to extortion. Following this, the Supreme Court handed over the investigation of the case to the CBI.

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Supreme Court Directs Registration

A CBI spokesperson stated that in April 2025, the Supreme Court ordered the agency to register seven preliminary investigations in addition to the six cases. These investigations relate to fraud under new home loan schemes called "subvention schemes." The Supreme Court had termed this an unfair and misleading method and directed the CBI to investigate.

Seven Preliminary Inquiries Have Already Been Registered

The spokesperson stated that, as per the Supreme Court's order, the CBI has already registered seven preliminary inquiries and is conducting a thorough investigation into the matter. So far, 22 cases have been registered against builders in the Delhi-NCR region. The CBI has also submitted a status report to the Supreme Court.

Action Against Builders Outside NCR

Upon completion of the seventh preliminary inquiry against builders in cities outside the NCR region, the CBI submitted a status report to the Supreme Court. Subsequently, the Court ordered the registration of six new regular cases against various builders and unidentified officials of financial institutions in Kolkata, Bengaluru, and Mumbai.

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Search And Seizure Of Evidence Continues

The CBI stated that in compliance with the Supreme Court's orders, six new cases have been registered and searches are ongoing. Several incriminating documents and digital electronic evidence have been seized, which will play a crucial role in the investigation.

The strong action taken by the Supreme Court and the CBI in the case of alleged fraud against homebuyers clearly demonstrates the government's serious stance against corruption. The investigation aims to bring the guilty to justice and prevent such crimes in the future. The CBI investigation is ongoing, and more revelations are likely in the future.