Homebuyers: Supreme Court seeks CBI response on builder-banks nexus

The Supreme Court has issued notice to the Central Bureau of Investigation (CBI), directing it to come up with a roadmap within two weeks on how it planned to carry out investigation into the alleged builder-banks nexus in Delhi/NCR, which duped thousands of homebuyers in the region.

The Bench of Justice Surya Kant and Justice N Kotiswar Singh further appointed Advocate Rajiv Jain as Amicus Curiae in the case.

Noting that Advocate Jain had vast investigative and administrative experience, besides legal intricacies and expertise to assist the Court, the Bench directed him to submit a brief note as to how to further proceed in the matter.

The Apex Court recorded in its order that CBI would submit a proposal within two weeks, as to how it would like to proceed with the investigation into the issues mentioned in the Court’s March 4, 2025 order.

Additional Solicitor General (ASG) Aishwarya Bhati, appearing for CBI, apprised the Bench that she had a discussion with the Ministry of Housing and Urban Affairs as well as CBI officials.

The Apex Court may direct a CBI probe, however, it must be kept in mind that the task would be voluminous, she added.

The ASG further suggested that the Court may permit starting a probe with 1-2 projects situated in Greater Noida.