The Central Bureau of Investigation (CBI), the country’s top crime-fighting agency, on Friday launched searches at private sector property developer Jaypee’s marketing office in Sector 128, Noida, Uttar Pradesh. The agency’s investigators conducted the raids in connection with 24 projects located in Noida, Greater Noida and Yamuna Expressway areas. Some of these projects are started by the Jaypee group. The development comes after the Supreme Court’s April 29 order to carry out a probe into suspected financial irregularities involving an alleged nexus between lenders and property developers.
CBI investigators search for documents in relation to the alleged irregularities.
The latest CBI searches are part of its ongoing investigations as per a Supreme Court order dated April 29. Investigators are probing alleged financial irregularities in loans sanctioned under a misused subvention scheme that may have impacted thousands of homebuyers.
Under the scheme, banks disbursed funds to builders for home loans. In several cases, property builders stopped paying interest while failing to deliver the projects to homebuyers. There were also instances where homebuyers had to bear the EMI burden without the delivery of flats.
Earlier, the CBI sought details about nine builder projects from the Noida Authority, 11 projects from the Greater Noida Authority, and four projects from the Yamuna Development Authority. It demanded details related to outstanding amounts, layout plans, agreement letters, registry statuses, the builders.
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The CBI launched the raids after receiving the required details from the authorities.
CRPF and police personnel secured the premises during the searches.
Supreme Court April 29 order
On April 29, the top court directed the Yamuna Expressway Industrial Development Authority (YEIDA) to appoint developers to complete Jaiprakash Associates’ pending residential projects.
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
