The CBI has filed a chargesheet against Sequel Buildcon for allegedly defrauding homebuyers and misusing funds in a Noida-based housing project, marking the latest development in the builder-banker nexus scam.
The CBI has filed its seventh chargesheet in the builder-banker nexus scam against Sequel Buildcon Private Limited for allegedly cheating homebuyers and siphoning off funds issued by PNB Housing Finance for a Noida-based 'The Belvedere' project, officials said Monday.
The CBI, which is probing 50 such cases handed over to it by the Supreme Court, alleged that the company neither delivered possession of the residential units to homebuyers nor refunded the amounts deposited by them, they said.
Around 23 persons had filed a case against the company, and it was on their petition that the Supreme Court handed the case over to the CBI.
"Investigation conducted by the CBI has revealed that the accused builder company and its directors, in furtherance of a criminal conspiracy, allegedly induced innocent homebuyers/investors through false assurances, misleading representations and deceptive promises, thereby dishonestly obtaining financial gains while causing wrongful loss to the victims," CBI spokesperson said in a statement.
The chargesheet has been filed before the competent court under relevant provisions of the Indian Penal Code pertaining to criminal conspiracy, cheating and criminal breach of trust, the statement said.
It said the CBI had filed six chargesheets in similar cases against Rudra Buildwell Constructions Pvt. Ltd, Dream Procon Pvt. Ltd, Jaypee Infratech Ltd, AVJ Developers (India) Pvt. Ltd, CHD Developers Pvt. Ltd, and Shubhkamna Buildtech Pvt. Ltd. In all cases, the directors of these companies have also been chargesheeted.