New Delhi, July 23 -- The Supreme Court on Tuesday allowed the CBI to register 22 cases into the "unholy nexus" between the banks and developers to dupe homebuyers in NCR.
A bench of Justices Surya Kant and N Kotiswar Singh allowed the CBI to convert the six preliminary enquiries it conducted against various builders and banks into 22 regular cases equivalent to FIRs in which cognisable offences are made for further investigation.
Those under scanner include builders in NCR and development authorities in Uttar Pradesh and Haryana.
Under the subvention scheme, banks disburse the sanctioned amount directly to the accounts of builders, who are then required to pay EMIs on the sanctioned loan amount until flats are handed over to homebuyers....