CBI files chargesheet against Shubhkamna Buildtech Private Limited, directors in cheating case

The Central Bureau of Investigation (CBI) has filed a charge sheet against Shubhkamna Buildtech Private Limited and its directors in connection with alleged fraudulent activities relating to a housing project in Uttar Pradesh’s Greater Noida.

The agency is probing 50 such cases registered on the Supreme Court’s directive to look into the alleged nexus between various builder companies and unknown officials of financial institutions across the country in matters concerning alleged cheating and diversion of funds involving homebuyers.

In the latest case, the CBI probe revealed that the accused builder company and its directors induced innocent homebuyers and investors through false assurances, misleading representations and deceptive promises, causing wrongful loss to the victims.

“The investigation unearthed substantial evidence and the charge sheet has been filed before the competent court under relevant provisions of the Indian Penal Code pertaining to criminal conspiracy, cheating and criminal breach of trust,” the agency said.

Earlier, the CBI had filed 10 charge sheets against Rudra Buildwell Constructions Pvt. Ltd., Dream Procon Pvt. Ltd., Jaypee Infratech Ltd., AVJ Developers (India) Pvt. Ltd., CHD Developers Pvt. Ltd., Shubhkamna Buildtech Pvt. Ltd., Sequel Buildcon Pvt. Ltd., Logix City Developers Pvt. Ltd. and Manju J Homes India Ltd. and their directors. In some cases, officials of certain banks and financial institutions have also been arraigned.