CBI Files 18th Chargesheet Against MKHS Housing, Indiabulls Entities in Homebuyers Major Fraud Case:

In connection with a recent ongoing probe in a large-scale homebuyer fraud case, the Central Bureau of Investigation (CBI) has filed the 18th chargesheet against M/s. MKHS Housing LLP, its designated partner, M/s. Indiabulls Distribution Services Limited (at present known as M/s. Indiabulls Nests Limited), and its directors/officials, as well as M/s. Indiabulls Investment Advisors Limited (at present known as M/s. Indiabulls Urban Residency Limited), and its directors in relation to alleged fraudulent activities concerning a housing project located at Rajarhat Town Area, North 24 Parganas, West Bengal.

According to the reports, the charge sheets have been filed before the CBI (Special) Court-II, Alipore, North 24 Parganas, West Bengal. The probe conducted by the CBI unveiled that the accused allegedly conspired with officials of an NBFC and induced homebuyers and investors through false promises and misleading representations to obtain financial benefits through illegal means.

The CBI stated that its investigation uncovered substantial evidence supporting allegations of criminal conspiracy, abetment, cheating, and criminal breach of trust under relevant provisions of the Indian Penal Code.

The agency is currently investigating 31 other cases registered following directions of the Supreme Court. These cases involve allegations of cheating and diversion of funds by various builder companies, along with suspected involvement of officials of financial institutions.

Before this latest filing, the CBI had filed 17 charge sheets against several builder companies, including Rudra Buildwell Constructions, Jaypee Infratech, AVJ Developers, CHD Developers, Logix City Developers, Ninex Developers, and others, along with their directors and officials of certain banks and financial institutions.