CBI Files 17th Chargesheet in Homebuyers Fraud Probe, Names Bengaluru-Based Ozone Urbana Infra Developers and Director
Bengaluru | July 17, 2026
The Central Bureau of Investigation (CBI) has filed its 17th chargesheet in an ongoing nationwide investigation into alleged fraud involving homebuyers and real estate developers. The latest chargesheet has been filed against Bengaluru-based real estate company M/s Ozone Urbana Infra Developers Pvt. Ltd. and its director over alleged cheating and fraudulent activities linked to a housing project in Bengaluru.
According to an official CBI press release dated July 17, 2026, the chargesheet has been submitted before the court of the Additional Chief Judicial Magistrate (ACJM), CBI Cases, Bengaluru. The action marks another important development in the agency’s continuing efforts to investigate alleged financial irregularities, fraudulent promises and diversion of funds in the real estate sector.
The case forms part of a broader investigation into complaints involving homebuyers who allegedly suffered financial losses after investing their hard-earned money in residential projects based on assurances made by builders and developers.
Builder Company and Director Accused of Cheating Homebuyers
During its investigation, the CBI reportedly found evidence suggesting that Ozone Urbana Infra Developers Pvt. Ltd. and its director allegedly acted in furtherance of a criminal conspiracy to deceive homebuyers and investors.
According to the agency, the accused allegedly attracted buyers through false assurances, misleading representations and promises relating to the housing project. These representations were allegedly used to persuade innocent homebuyers and investors to put their money into the project.
The investigation indicated that the accused allegedly obtained financial benefits through these deceptive assurances, while homebuyers and investors suffered wrongful financial losses.
The CBI has stated that substantial evidence was collected during the investigation, following which the agency decided to file the chargesheet before the competent court.
The chargesheet has been filed under relevant provisions of the Indian Penal Code (IPC) relating to criminal conspiracy, cheating and criminal breach of trust.
17th Chargesheet in Nationwide Homebuyers Fraud Investigation
The latest chargesheet represents the 17th such filing by the CBI in its wider investigation into alleged fraud involving real estate companies and financial institutions.
The investigation is being carried out in accordance with directions issued by the Supreme Court of India and covers allegations of cheating, financial irregularities and diversion of funds connected with housing projects across the country.
The CBI is currently investigating 32 other cases registered against various builder companies and unidentified officials of financial institutions. These cases involve allegations of fraudulent activities and misuse or diversion of funds, allegedly affecting the financial interests of homebuyers.
The agency is examining the role of different real estate developers, their directors and certain banking and financial institution officials to establish how funds were collected, utilised and allegedly diverted.
CBI Has Earlier Filed 16 Chargesheets Against Other Builders
Before the latest action against Ozone Urbana Infra Developers Pvt. Ltd., the CBI had already filed 16 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.
- M/s Saha Infratech Pvt. Ltd.
The chargesheets were filed against these companies and their respective directors, with certain cases also involving officials of banks and financial institutions.
With the latest filing against Ozone Urbana Infra Developers Pvt. Ltd., the total number of chargesheets filed by the agency in this wider investigation has reached 17.
Focus on Protecting Homebuyers and Holding Developers Accountable
The CBI’s ongoing investigation highlights the serious concerns surrounding alleged fraud in the real estate sector, where homebuyers often invest their lifetime savings in the hope of securing a home.
Cases involving misleading promises, incomplete housing projects, alleged diversion of funds and financial irregularities can leave buyers facing prolonged uncertainty and substantial economic losses.
By continuing its investigation into these matters, the agency is seeking to establish accountability and examine the alleged involvement of developers, directors and financial institution officials.
The CBI 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 latest chargesheet against Ozone Urbana Infra Developers Pvt. Ltd. marks another step in the nationwide probe, as the CBI continues examining 32 other cases involving alleged cheating and diversion of homebuyers’ funds across the country. The investigation remains ongoing.
News Source: CBI – Official Press Release
