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 real estate industry in Mumbai is grappling with increasing cases of fraud and deception by developers, leading to significant financial losses for homebuyers and legal action.
A Delhi-based investor has petitioned the Supreme Court to direct Sahara Group to refund his investments, marking the first such individual action amidst an ongoing dispute with SEBI over repayment of dues to nearly 3 crore investors.