CBI Files Chargesheet Against Real Estate Company, Bank Officials for Alleged Cheating
The Central Bureau of Investigation (CBI) has filed a chargesheet against Logix City Developers Pvt. Ltd., its directors, and officials from ICICI Bank and HDFC Bank for their alleged involvement in a housing project scam in Noida.
Accused Involved in Wrongful Loss to Financial Institutions and Homebuyers
According to the CBI, the accused builder company and its directors allegedly induced homebuyers and investors through false assurances and fraudulent representations, obtaining financial benefits through illegal and deceptive means.
Charges Under IPC and Prevention of Corruption Act
- Criminal conspiracy
- Cheating
- Criminal breach of trust
- Criminal misconduct under the Prevention of Corruption Act
50 Cases Probed by CBI Under Supreme Court Directions
The CBI is currently investigating 50 cases against various builders and unknown officials of financial institutions across the country, following directions from the Supreme Court.
Earlier Chargesheets Filed by CBI
The agency had previously filed seven chargesheets in similar cases involving several builder firms and officials of banks and financial institutions.
Logix City Developers and Its Directors Named in Chargesheet
- Logix City Developers Pvt. Ltd.
- Directors of Logix City Developers
Bank Officials Named in Chargesheet
- ICICI Bank officials
- HDFC Bank officials
The chargesheet has been filed before a competent court under the Indian Penal Code and the Prevention of Corruption Act.
Statement from CBI
The agency alleged that the accused public servants abused their official position to facilitate the illegal acts of the builder in violation of established norms and procedures.