Overview
- Justices Surya Kant and N Kotiswar Singh accepted the CBI’s sealed-cover report and converted six preliminary probes into 22 FIR-equivalent cases for further investigation.
- The cases allege that banks under subvention schemes routed home loans directly to developers who defaulted on EMIs and then shifted repayment obligations onto buyers without delivering possession.
- The CBI special investigation team has examined over 1,000 witnesses and inspected 58 project sites across Noida, Greater Noida, Gurugram, Ghaziabad and other NCR areas.
- The apex court directed the CBI to complete its seventh preliminary enquiry into projects beyond the NCR within six weeks.
- Investigations also target prominent builders such as Supertech Limited and involve scrutiny of development authorities in Uttar Pradesh and Haryana for their alleged roles in the collusion.