The Supreme Court of India has directed the CBI to investigate delays in housing construction projects linked to potential misconduct by real estate builders and banks in major cities. A Special Investigation Team will be formed, with police support from Uttar Pradesh and Haryana, ensuring close monitoring and monthly hearings on the probe’s progress.
RK Arora, Supertech Chairman, sought statutory bail citing incomplete ED investigation. Delhi High Court rejected the plea, stating lack of merit and dismissing it. Supertech faces allegations of defrauding 800 homebuyers. Arora was arrested in June 2023, with ongoing investigation. Court upheld ED’s claim of investigation completion, refusing bail. (Word count: 50)
