CBI files charge sheet in Ajmara India housing fraud case

The Central Bureau of Investigation (CBI) has filed its 20th charge sheet in an ongoing investigation into large-scale fraud targeting home buyers. The latest filing targets Ajmara India Limited, its promoters and directors, as well as 15 employees from several financial institutions, including ICICI Bank Limited, HDFC Bank Limited, PNB Housing Finance Limited, and Samman Capital Limited.

The case pertains to alleged fraudulent activities involving the ‘Ajmara Ambrosia’ housing project located at Plot Number GH-1, Sector-118, Noida, Uttar Pradesh. According to the CBI, the builder and its directors allegedly used false promises and deceptive practices to lure investors and secure illegal financial gains.

The charge sheet, filed in the Rouse Avenue District Court in New Delhi, includes charges related to criminal conspiracy, fraud, and criminal breach of trust under the Indian Penal Code and the Prevention of Corruption Act, 1988. The CBI is currently investigating 34 other cases involving various builder companies and financial institutions following directives from the Supreme Court regarding the misuse of funds and fraud against homebuyers.