'Denied flats for decades': CBI flags instances of bank-builder nexus; subvention schemes exploited ...Middle East

The Times of India - News
Denied flats for decades: CBI flags instances of bank-builder nexus; subvention schemes exploited
source : The Times of India ( Middle East ) () 67
The Supreme Court has directed the CBI to file FIRs in six cases concerning builder-bank collusion, where subvention schemes were misused, resulting in the exploitation and defrauding of numerous homebuyers who were denied their flats for years. This order follows the CBI's preliminary investigation into 21 housing projects and 19 banks, revealing cognizable offenses. Supertech alone secured over Rs 5,157 crore from banks and financial institutions since 1998.

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