The Supreme Court has observed that it is prima facie convinced of a calculated and deep-rooted conspiracy between real estate developers and financial institutions to exploit the subvention scheme, resulting in prolonged harassment of homebuyers who continued paying EMIs for years for flats that were never delivered.

Rejecting pleas by several builders seeking exclusion from the probe, the court refused to keep any realtor accused of delayed possession after opting for the subvention scheme outside the ambit of the CBI investigation, according to a TOI report.

Additional solicitor general Aishwarya Bhati informed that in compliance of court orders, CBI has so far registered 28 regular cases, or FIRs, against builders and has completed probe in three cases where chargesheets have been filed. The bench asked the trial court to decide on taking cognisance of the chargesheets within two weeks and then proceed expeditiously with the trial.