Builders-bank nexus: SC asks Delhi court to take cognisance of CBI charge sheets

The Supreme Court on Tuesday asked a special court in the national capital to take cognisance of three charge sheets filed by the CBI on alleged "unholy nexus" between banks and developers to dupe homebuyers in the NCR in two weeks and proceed with the trial.

A three-judge Bench led by Chief Justice of India Surya Kant issued the direction after Additional Solicitor General Aishwarya Bhati submitted on behalf of the CBI that a substantial progress in the probe will be made by the agency in all 25 cases of homebuyers by March 2026.

Taking note of an "unholy nexus" between banks and builders resulting in duping of thousands of unsuspecting homebuyers in Delhi-NCR, the Supreme Court had on April 29, 2025 directed the CBI to register seven PEs against Supertech Ltd and other builders.

On July 22 last year, it had allowed the CBI to register 22 cases to probe the "unholy nexus" between banks and developers to dupe homebuyers in Delhi-NCR and had granted six weeks to the agency to complete the PEs with regard to projects outside the NCR.

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. After builders started defaulting on EMIs to banks, as per the tripartite agreement, the banks sought EMIs from the homebuyers.

The Bench is dealing with petitions filed by several homebuyers -- who booked flats under subvention schemes in various housing projects in Noida, Greater Noida and Gurugram – and were allegedly forced by banks to pay EMIs despite not getting possession of flats.

The Supreme Court had on September 23, 2025 allowed the CBI to register six more regular cases (RCs) to probe the alleged unholy nexus between banks and builders to dupe homebuyers in real estate projects in Mumbai, Bengaluru, Kolkata, Mohali and Prayagraj.