Overview

• The new cases name Ithaca Estate, LGCL Urban Homes, Ozone Urbana, Shashwati Realty, MKHS Housing and ACME Realities, along with unknown officials of financial institutions.
• CBI teams searched 12 premises in Kolkata, Bengaluru and Mumbai on Saturday, seizing incriminating documents as well as electronic and other digital evidence.
• The action follows completion of the seventh preliminary enquiry covering projects outside the NCR, after which the Supreme Court directed conversion into six regular cases.
• These FIRs are part of a court‑monitored probe into alleged misuse of “no EMI until possession” subvention schemes in which developers allegedly defaulted and banks pursued buyers.
• Earlier phases produced 22 NCR cases and parallel ED money‑laundering probes, with investigators indicating evidence collection and additional casework will continue.