ED Raids Delhi Builders Over No-EMI Scheme Trapping Homebuyers

Some builders in India offered a special deal to people who wanted to buy new homes.

Under the deal, buyers did not have to pay their home loan payments until they got the keys to their new flat.

The builders promised to make those loan payments for them.

But many homebuyers never got their flats, even after waiting for several years.

When the builders stopped paying, the banks asked the homebuyers to pay the loan money themselves.

This caused big money problems for many families.

A government agency called the CBI looked into the complaints and filed cases against the builders.

India's financial crime agency, the ED, then searched offices and properties linked to the builders.

Investigators are checking where the loan money went and whether it was moved to other companies.