Bengaluru, September 2026 : The Central Bureau of Investigation (CBI) on Thursday conducted searches at 12 locations in Bengaluru, Mumbai and Pune in connection with five new criminal cases registered against builders and officials of financial institutions for allegedly cheating and defrauding homebuyers, the agency said.
The five cases were registered following directions from the Supreme Court. According to the CBI, four cases relate to the Ozone Group and its associated entities in connection with housing projects in Bengaluru and Mumbai, while the fifth case involves M/s Vivansaa Baalsam and its Bengaluru project.
The cases also name unidentified officials of various financial institutions for alleged offences including criminal conspiracy, cheating, criminal breach of trust and criminal misconduct.
The CBI said its investigation is focused on an alleged nexus between builders and officials of financial institutions that resulted in homebuyers being cheated and defrauded. A large number of affected homebuyers had approached the Supreme Court seeking relief over alleged fraudulent activities by builders, which they claimed had caused prolonged financial and personal hardships.
The searches were conducted to collect crucial evidence relating to the alleged conspiracy and examine suspected diversion of funds, financial irregularities and fraudulent practices in the housing and real estate sector.
During the searches, CBI teams recovered and seized documents, digital devices and other materials considered relevant to the investigation. The agency said the seized material is being examined to establish the sequence of events and identify the role of individuals and entities allegedly involved in the cases.
The CBI said it had previously registered 50 cases against various builders across the country in compliance with directions issued by the Supreme Court. With the registration of the five fresh cases, the total number of cases registered by the agency pursuant to the apex court's directions has now reached 55.
The latest searches form part of the agency's broader investigation into alleged economic offences involving the housing sector and the interests of homebuyers.
The CBI reiterated its commitment to conducting an expeditious and impartial investigation into economic offences and ensuring accountability in cases where homebuyers are allegedly defrauded through violations of applicable laws, regulations and financial guidelines.
The agency's investigation is ongoing, and the allegations against the builders and financial institution officials are yet to be established through the legal process.
