The Supreme Court has directed the CBI to conduct a preliminary inquiry into a nexus between builders and banks in projects in Delhi, the National Capital Region, Mumbai, Chandigarh, Mohali and Kolkata. During a hearing today, an Apex Court bench directed the CBI to register seven preliminary enquiries and set up a special investigation team (SIT). One of the companies against which a preliminary inquiry will be registered is Supertech. The Supreme Court will monitor the case and hear it every month. For the NCR, the Apex Court ordered a probe into the real estate projects of Supertech Limited. An investigation will also be carried out on other builders who have projects in other cities, including Delhi-NCR. The Court also asked the CBI to submit an interim status report.
The Court asked the DGPS of Uttar Pradesh and Haryana to provide a list of officers for SIT. In addition, the court directed the CEOS or administrators of the Greater Noida Authority, Noida Authority, and the Secretary of the Ministry of Housing and Urban Affairs to each nominate a senior-most official to serve as a nodal officer for the SIT. Similar directions were issued to the Institute of Chartered Accountants of India and the Reserve Bank of India. The designated officers must be named within a week to facilitate the SIT’s probe. An investigation will also be carried out on other builders who have projects in Delhi-NCR, Mumbai, Chandigarh, Mohali and Kolkata, and the CBI has been asked to submit an interim status report.