3 hrs ago
CBI Searches 12 Locations Over Alleged Builder-Finance Nexus
The CBI is investigating claims that builders and financial institution officials worked together improperly.
The Supreme Court ordered the agency to register five cases.
Four cases involve the Ozone Group and its related companies.
Another case involves M/s Vivansaa Baalsam.
The cases concern housing projects in Bengaluru and Mumbai.
On September 10, 2026, investigators searched 12 places in three cities.
They collected documents, electronic devices and other materials.
The investigation is looking into possible cheating, diverted money and other financial problems affecting homebuyers.
The Central Bureau of Investigation registered five criminal cases following Supreme Court orders against two builders and unknown financial institution officials.
Four cases concern the Ozone Group and related entities, involving projects in Bengaluru and Mumbai.
The fifth case involves M/s Vivansaa Baalsam and its Bengaluru project.
CBI teams searched 12 locations across Bengaluru, Mumbai and Pune on September 10, 2026.
Investigators seized documents, digital devices and other materials while examining alleged fund diversion, financial irregularities and homebuyer fraud.
- Who
- The Central Bureau of Investigation, the Ozone Group and related entities, M/s Vivansaa Baalsam, and unknown officials of various financial institutions.
- What
- The CBI registered five criminal cases and conducted searches over alleged conspiracy, cheating, criminal breach of trust, criminal misconduct, fund diversion and financial irregularities.
- Where
- Searches were conducted at 12 locations in Bengaluru, Mumbai and Pune; the cases concern projects in Bengaluru and Mumbai.
- When
- The searches took place on September 10, 2026; the cases were registered on Supreme Court orders.
- Why
- The CBI said it was gathering evidence about an alleged builder-financial institution nexus and fraudulent practices affecting homebuyers.
Key facts
- Investigating agency
- Central Bureau of Investigation
- Cases registered
- Five new criminal cases
- Search locations
- 12 locations
- Cities searched
- Bengaluru, Mumbai and Pune
- Builders named
- Ozone Group and related entities; M/s Vivansaa Baalsam
- Evidence seized
- Incriminating documents, digital devices and other materials
- Alleged offences
- Criminal conspiracy, cheating, criminal breach of trust and criminal misconduct
- Earlier CBI cases
- The CBI said it had previously registered 50 cases against builders under Supreme Court directions, bringing the total to 55 with these cases
Sources
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