New Delhi, May 11 (IANS) The CBI filed a seventh chargesheet in connection with the alleged fraudulent activities of builders for cheating home buyers, arraigning Sequel Buildcon, which had promised to deliver high-end flats in Noida, said an official on Monday.  The building company and its Directors were booked by the Central Bureau of Investigation (CBI) in connection with alleged fraudulent activities relating to a housing project situated at Noida, said a statement.An investigation conducted by the CBI revealed that the accused builder company and its directors, in furtherance of a criminal conspiracy, allegedly induced innocent homebuyers/investors through false assurances, misleading representations, and deceptive promises, thereby dishonestly obtaining financial gain while causing wrongful loss to the victims.

The charge sheet has been filed before a Special Court under relevant provisions of the Indian Penal Code pertaining to criminal conspiracy, cheating and criminal breach of trust.The CBI is presently investigating 50 cases registered pursuant to the directions of the Supreme Court against various builder companies and unknown officials of financial institutions across the country in matters concerning alleged cheating and diversion of funds.Earlier, the CBI filed six charge sheets in similar cases against Rudra Buildwell Constructions and its Directors, Dream Procon and its Directors, Jaypee Infratech and its Directors, AVJ Developers (India) and its Directors, along with officers of certain banks and financial institutions, CHD Developers and its Directors and Shubhkamna Buildtech and its Directors, said a statement.

The investigation conducted by CBI revealed that Sequel Buildcon and its Directors, in furtherance of a criminal conspiracy, allegedly induced innocent homebuyers/investors through false assurances.The builders made misleading representations and deceptive promises to collect home booking amounts but diverted the money to activities other than the promised project, thereby dishonestly obtaining financial gains.The statement said that the CBI remains committed to ensuring accountability in cases involving economic offences, corruption and public fraud, particularly those adversely affecting the interests of common citizens and homebuyers.

/IANS