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CBI Investigates ₹9,000 Crore Fraud in Noida Sports City Projects

Three FIRs have been filed against developers and officials for alleged corruption, with searches uncovering incriminating evidence.

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The Central Bureau of Investigation (CBI) has filed three FIRs against the developers of Noida’s Sports City projects over alleged irregularities in the land allotment process, a report published in HT said. (Picture for representational purposes only) (Sunil Ghosh/HT Photo)
(Representational image)

Overview

  • The CBI has filed three FIRs against developers Logix Infrastructure, Lotus Green, and Xanadu Estates, along with Noida authority officials, for alleged irregularities in land allotment and financial mismanagement.
  • The Allahabad High Court ordered the investigation, citing violations of project agreements, misuse of funds, and failure to deliver promised sports infrastructure.
  • Searches conducted by the CBI in Noida and Delhi have recovered incriminating documents and digital evidence, with the investigation still ongoing.
  • The Supreme Court has granted interim relief to two developers, allowing investigations to proceed without coercive actions against them.
  • The alleged corruption is estimated to have caused a ₹9,000 crore loss to the state exchequer, with developers facing potential penalties, including forfeiture of security deposits and project cancellations.