CBI Files 16th Chargesheet in Noida Homebuyers Fraud Case, Names Saha Infratech Directors and HDFC, ICICI Bank Officials
New Delhi/Noida | July 14, 2026
The Central Bureau of Investigation (CBI) has filed its 16th chargesheet in the ongoing nationwide investigation into alleged fraud involving homebuyers, targeting Noida-based real estate developer M/s Saha Infratech Pvt. Ltd., its director and officials associated with HDFC Bank Ltd. and ICICI Bank Ltd.
The chargesheet relates to alleged fraudulent activities connected with a housing project in Noida, where homebuyers and investors were reportedly misled through false assurances and deceptive representations. The agency suspects that the builder company, its directors, certain bank officials and other private individuals acted together as part of a criminal conspiracy to obtain unlawful financial benefits at the expense of homebuyers.
According to the official CBI press release dated July 14, 2026, the chargesheet has been submitted before the Court of the Special Judge, CBI Cases, Rouse Avenue District Court (RADC), New Delhi.
The latest development marks another important step in the agency’s broader investigation into alleged financial irregularities in the real estate sector, particularly cases involving homebuyers who invested their savings in residential projects based on promises made by developers and other associated parties.
Builder and Bank Officials Allegedly Conspired to Cheat Homebuyers
During its investigation, the CBI reportedly uncovered evidence suggesting that Saha Infratech Pvt. Ltd. and its directors allegedly entered into a criminal conspiracy with certain officials of HDFC Bank and ICICI Bank, along with other private individuals.
According to the agency, the accused allegedly attracted homebuyers and investors through misleading assurances and fraudulent representations relating to the housing project.
These alleged promises were reportedly used to persuade buyers to invest money, resulting in financial benefits for the accused while causing wrongful losses to homebuyers and investors.
The investigation also examined the alleged involvement of bank officials and whether their positions or access to financial processes were misused to facilitate the suspected fraudulent activities.
The CBI stated that substantial evidence was collected during the investigation, following which the agency filed the chargesheet before the competent court.
Chargesheet Filed Under IPC and Prevention of Corruption Act
The chargesheet has been filed under relevant provisions of the Indian Penal Code (IPC) and the Prevention of Corruption Act.
The allegations include:
- Criminal conspiracy involving the builder, directors and other individuals.
- Cheating and fraudulent representations made to homebuyers and investors.
- Alleged abuse of official position by public servants.
- Criminal breach of trust.
- Suspected involvement of bank officials in facilitating the alleged irregularities.
The chargesheet places the findings of the investigation before the court for further legal proceedings.
CBI Continues Investigation into 33 Other Homebuyers Fraud Cases
The latest chargesheet is part of a much wider investigation being conducted by the CBI following directions issued by the Supreme Court of India.
The agency is currently investigating 33 additional cases involving various real estate developers and unidentified officials of financial institutions across the country.
These cases concern allegations of cheating homebuyers, fraudulent financial arrangements and diversion of funds collected in connection with housing projects.
The investigation aims to establish how money collected from homebuyers and investors was utilised, whether funds were diverted from their intended purposes and whether officials of financial institutions played any role in facilitating the alleged transactions.
The CBI is also examining the responsibilities of developers, company directors, banking officials and other individuals suspected of being connected with these cases.
15 Earlier Chargesheets Filed Against Real Estate Companies
Before filing the latest chargesheet against Saha Infratech Pvt. Ltd., the CBI had already submitted 15 chargesheets against several real estate companies, their directors and officials associated with certain banks and financial institutions.
The companies named in the earlier chargesheets include:
- M/s Rudra Buildwell Constructions Pvt. Ltd.
- M/s Dream Procon Pvt. Ltd.
- M/s Jaypee Infratech Ltd.
- M/s AVJ Developers (India) Pvt. Ltd.
- M/s CHD Developers Pvt. Ltd.
- M/s Sequel Buildcon Pvt. Ltd.
- M/s Logix City Developers Pvt. Ltd.
- M/s Manju J Homes India Ltd.
- M/s Shubhkamna Buildtech Pvt. Ltd.
- M/s Ninex Developers Ltd.
- M/s Decent Buildwell Pvt. Ltd.
- M/s Rudra Buildwell Projects Pvt. Ltd.
- M/s Ithaca Estate Pvt. Ltd.
- M/s LGCL Urban Homes (India) LLP.
The earlier cases involved allegations of financial irregularities, cheating and diversion of funds connected with residential projects and homebuyers’ investments.
With the addition of Saha Infratech Pvt. Ltd., the total number of chargesheets filed by the agency in this wider investigation has reached 16.
Focus on Accountability and Protection of Homebuyers
The ongoing CBI investigation highlights the challenges faced by homebuyers in the real estate sector, where individuals often invest their lifetime savings in purchasing residential properties.
Allegations of misleading promises, financial irregularities, misuse of funds and suspected collusion between developers and financial institution officials can leave buyers facing significant financial losses and uncertainty about their investments.
Through its continued investigation, the CBI is seeking to identify those responsible, examine the alleged financial transactions and bring individuals involved in economic offences before the legal system.
The agency has reiterated its commitment to ensuring accountability in cases involving economic offences, corruption and public fraud, particularly those that adversely affect ordinary citizens and homebuyers.
The filing of the 16th chargesheet marks another significant development in the nationwide homebuyers fraud investigation. With 33 additional cases still under investigation, the CBI continues its efforts to uncover alleged financial irregularities and establish accountability among real estate developers, company directors and financial institution officials.
News Source: CBI – Official Press Release
