New Delhi, Aug. 14 -- The Enforcement Directorate has conducted muiltiple searches across Delhi and the National Capital Region (NCR) under its ongoing money laundering probe into the alleged builder-bank nexus matters, cheating the homebuyers with subvention schemes.
The subvention scheme refers to an arrangement, common in the real estate sector, wherein a developer says it would pay interest on the home loan (or pre-EMI) on behalf of the buyer for a certain period, that is usually until the property is ready for possession.
The Delhi Zonal Office- I of the ED conducted search operations on Thursday in connection with ongoing investigations into the two builder-bank nexus cases.
The instant investigations under the Prevention of Money ...