The Supreme Court mandated a CBI investigation into Mumbai's builder-bank nexus, uncovering subvention schemes that diverted funds and delayed housing projects. Over 1,200 homes across six cities are implicated, with Supertech at the epicenter.
The Supreme Court has directed a CBI investigation into a scam involving builders and banks through interest subvention schemes, leaving homebuyers burdened with EMIs for unfinished homes and highlighting issues with project delays and regulatory enforcement.