The Supreme Court has instructed the CBI to launch seven preliminary investigations into suspected collusion between major banks and real estate developers across several Indian cities. This action aims to protect defrauded homebuyers in areas like Noida, Gurugram, and Mumbai. The court noted evidence suggesting a nexus between financial institutions and builders, leading to financial exploitation.

“This isn’t just about giving a job — it’s about restoring dignity, hope, and stability to a family that has faced unimaginable loss,” a senior official said

The top court was hearing petitions from homebuyers in NCR, who allege being forced by banks to pay EMIs for flats under subvention plans despite not receiving possession