Overview
- The CBI filed its sixth chargesheet in the builder–bank sweep against Shubhkamna Buildtech and its directors over an alleged Noida housing fraud under IPC offences of conspiracy, cheating, criminal breach of trust, and abetment.
- The filing follows earlier cases in the same probe that named AVJ Developers and sister firm Kesar Builders along with bank officers from Bank of India, ICICI Bank, and UCO Bank, plus alleged proxy homebuyers.
- In a separate case in the same crackdown, the agency also charged CHD Developers over a Gurugram project for allegedly luring buyers with false assurances and misleading claims.
- Investigators outline a pattern in which banks released large loans under subvention schemes before projects were ready, developers diverted funds, and stand‑in buyers helped secure loans with false documents.
- The court‑ordered inquiry now spans about 50 cases, with the ED running parallel money‑laundering probes and AVJ in insolvency, which could shape how much buyers and lenders are able to recover.