6 CASES REGISTERED TO INVESTIGATE THE NEXUS OF BUILDERS AND OFFICIALS OF FINANCIAL INSTITUTIONS SEARCHES BEING CONDUCTED AT 12 LOCATIONS Dated: 27.09.2025 In a major crackdown on builders involved in cheating and defrauding thousands of homebuyers in Kolkata, Bangalore and Mumbai and to investigate the nexus of builders and officials of financial institutions, Central Bureau of Investigation (CBI) has registered 06 cases against different builders of Kolkata, Bangalore and Mumbai and unknown officials of various financial institutions in compliance of directions of the Hon’ble Supreme Court and conducted searches at 12 premises at Kolkata, Mumbai and Bangalore. It may be recalled that thousands of homebuyers across India being cheated by the builders/developers and further aggrieved by the coercive action of financial institutions against them approached Hon’ble Supreme Court by way of filing SLPs, seeking relief. The Hon’ble Supreme Court observing the unholy nexus between the builders and the financial institutions in cheating the homebuyers by innovating and introducing ‘Subvention Scheme’ of home loans, in April 2025, directed CBI to register 7 Preliminary Enquiries. Following the directions of the Hon’ble Supreme Court, CBI had registered 7 Preliminary Enquiries and after completion of 6 Preliminary Enquiries which were pertaining to builders in NCR, CBI had earlier submitted the status report before the Hon’ble Supreme Court and on the directions of the Hon’ble Supreme Court, Central Bureau of Investigation had registered 22 cases against various builders of National Capital Region (NCR), which are under active investigation. Now, on completion of the 7th Preliminary Enquiry which was against various builders outside NCR, CBI has submitted the status report before the Hon’ble Supreme Court. Upon perusal of the report submitted by the CBI, the Hon’ble Supreme Court directed CBI to register 06 Regular Cases against different builders in Kolkata, Bangalore and Mumbai and unknown officials of financial institutions. In compliance, CBI has registered 06 cases and conducted searches at 12 locations/places at Kolkata, Bangalore and Mumbai and Searches are still in progress. Various incriminating documents and some digital electronic evidences have been seized during searches. Investigation is continuing.