CBI files 17th chargesheet against builder in Bengaluru home buyers fraud case
The CBI has filed its 17th chargesheet against Ozone Urbana Infra Developers Pvt. Ltd. for allegedly cheating home buyers in Bengaluru. This is part of a larger, Supreme Court-monitored investigation into real estate fraud involving multiple firms and financial institutions.
Why it matters
The case highlights systemic issues in the Indian real estate sector and the ongoing efforts by federal agencies to protect consumer interests in housing projects.
The Central Bureau of Investigation (CBI) has filed its 17th chargesheet in the ongoing home buyers fraud investigation, naming Ozone Urbana Infra Developers Pvt. Ltd. and one of its directors, for allegedly cheating home buyers in connection with a housing project in Bengaluru.
The chargesheet was filed before the Additional Chief Judicial Magistrate (CBI Cases), Bengaluru.
According to the CBI, the builder company and its director allegedly entered into a criminal conspiracy to lure home buyers and investors with false assurances, misleading representations and deceptive promises, dishonestly obtaining financial gains while causing losses to buyers.
The investigation has found substantial evidence, the agency claimed, while invoking provisions of the Indian Penal Code relating to criminal conspiracy, cheating and criminal breach of trust.
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