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SC orders CBI probe into banks-builders nexus across major cities
The Supreme Court has instructed the CBI to launch seven preliminary investigations into suspected collusion between major banks and real estate developers across several Indian cities. This action aims to protect defrauded homebuyers in areas like Noida, Gurugram, and Mumbai. The court noted evidence suggesting a nexus between financial institutions and builders, leading to financial exploitation.
The Supreme Court has instructed the CBI to launch seven preliminary investigations into suspected collusion between major banks and real estate developers across several Indian cities. This action aims to protect defrauded homebuyers in areas like Noida, Gurugram, and Mumbai. The court noted evidence suggesting a nexus between financial institutions and builders, leading to financial exploitation.
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