SC order CBI investigation into major cities in Nexus between banks and builders. Bharat News
New Delhi: The Supreme Court on Tuesday directed the Central Bureau of Investigation (CBI) to register seven initial interrogation (PES) in suspicious connivance between major banks and real estate developers in several cities.
News agency PTI said that the apex court directed the CBI to give a list of DSP, Inspector, Constables to the UP, Haryana DGP to form a special investigation team (SIT).
The court order aims to protect homebuits in cities including Noida, Gurugram, Greater Noida (Yamuna Expressway), Mohali, Mumbai, Kolkata and Allahabad.
The apex court noticed that there was a priority proof of a connivance between reputed financial institutions and builders, which facilitated large -scale wrongdoing and financial exploitation of thousands of homebukes.
The SC protected homebuilders in July last year and directed that no strong action should be taken against them by banks or builders about the payment of EMI and no complaint would be made against them for check bounce cases.
The aggressive homebuilders stated that they were directly victims of illegal disburses of loans by banks in the account of the builders in violation of the RBI guidelines, which are legal in nature.
“This is a classic case where a rich man (bank/financial institution) gave money to another rich man (builder). The rich man who received money (builder) ran away with him without fulfilling his obligations. The money given by the rich man (bank/financial institution) did not return it.
