Supreme Court expands CBI probe into builder-bank subvention scam, brings ED into fold
Supreme Court orders CBI to expand probe into subvention scheme scam sharing details of criminal cases with ED, emphasizing timely investigations.
The Supreme Court of India has expanded the Central Bureau of Investigation's (CBI) probe into a subvention scheme scam involving builders and banks, bringing the Enforcement Directorate (ED) into the investigation. The court ordered the CBI to share details of alleged proceeds of crime with the ED in the 50 criminal cases being probed.
The court criticized the CBI's slow investigation pace and directed six banks to process prosecution sanctions against officials found guilty within two weeks. The court also directed the CBI to investigate additional complaints involving subvention-related allegations by home buyers of Ozone group, Rudra Buildwell, and others.
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