Bengaluru, September 10, 2026 (Yes Punjab News)
The Central Bureau of Investigation (CBI) on Thursday conducted searches at 12 locations in Bengaluru, Mumbai and Pune in connection with five criminal cases against builders and officials of financial institutions over alleged cheating and defrauding of homebuyers.
According to an official statement, the five cases were registered on the directions of the Supreme Court. Four cases relate to the Ozone Group and its associated entities in connection with projects in Bengaluru and Mumbai, while the fifth concerns M/s Vivansaa Baalsam and its Bengaluru project.
The cases also name unidentified officials of various financial institutions in connection with alleged offences including criminal conspiracy, cheating, criminal breach of trust and criminal misconduct.
The CBI said the cases pertain to an alleged nexus between builders and financial institution officials that resulted in homebuyers being cheated and defrauded.
A large number of homebuyers had approached the Supreme Court seeking relief over alleged fraudulent activities by builders, which they claimed had caused prolonged financial and personal hardship.
The searches were conducted to gather evidence relating to the alleged conspiracy, including possible diversion of funds, financial irregularities and fraudulent practices in the real estate sector.
During the searches, CBI teams seized documents, digital devices and other materials that are being examined as part of the ongoing investigation.
The agency said it had earlier registered 50 cases against different builders across the country in compliance with Supreme Court directions. With the five fresh cases, the total number of cases registered by the CBI on the apex court’s orders has now reached 55.
The CBI said it remains committed to conducting an expeditious and impartial investigation into economic offences and fixing accountability in cases involving the alleged defrauding of homebuyers through violations of applicable laws and guidelines.
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