NOIDA, May 23 -- The Noida, Greater Noida, and Yamuna Expressway authorities have begun preparing and handing over documents to the Central Bureau of Investigation (CBI) in connection with a Supreme Court-ordered probe into alleged collusion between real estate developers and banks in so-called subvention schemes.

The apex court, on April 29, directed the CBI to undertake a probe to unearth a possible nexus between builders and banks in sanctioning huge amounts under the scheme without following any due diligence.

Following the apex court's directive, the authorities have identified 24 housing projects-11 in Greater Noida, nine in Noida, and four in Yamuna City-that are under scrutiny.

These schemes were initially promoted by builders,...