Builder-buyer fraud case: CBI conducts raids in several cities

News Topical, Digital Desk : The CBI on Saturday raided 12 locations in Kolkata, Bengaluru and Mumbai after registering six cases against builders and officials of financial institutions for allegedly cheating and defrauding home buyers.

Various documents and some digital evidence were seized during the raids. Officials said the agency, following a Supreme Court directive, is investigating a nexus between builders and officials of financial institutions to defraud homebuyers in Kolkata, Bengaluru and Mumbai.

CBI had investigated earlier also

Homebuyers, fed up with being defrauded by builders and developers and punitive action taken against them by financial institutions, had approached the Supreme Court. A CBI spokesperson said that in April 2025, the Supreme Court directed the CBI to register seven preliminary inquiries, looking into the collusion between builders and financial institutions in defrauding homebuyers by altering the home loan 'assistance scheme' after its launch.

Previously, the CBI had registered seven preliminary inquiries at the direction of the Supreme Court. Furthermore, based on the findings of six preliminary inquiries, the CBI filed 22 cases against builders in the NCR region. A status report was also submitted to the Supreme Court.

Why was the raid conducted?

The spokesperson said, "Now, upon completion of the seventh preliminary inquiry against various builders outside the NCR, the CBI has submitted a status report to the Supreme Court. After reviewing the report submitted by the CBI, the Supreme Court has directed the CBI to register six regular cases against various builders and unknown officials of financial institutions in Kolkata, Bengaluru, and Mumbai." He said that in compliance with the Supreme Court's orders, six new cases were initiated and raids were conducted.

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