CBI arrests absconding accused in 8-year-old housing loan fraud case

ANI
05 Jul 2025, 06:00 GMT+10

New Delhi [India], July 5 (ANI): The Central Bureau of Investigation (CBI) on Friday arrested an absconding accused, Harsh Sharma, in connection with a housing loan fraud case registered in 2017, according to an official statement.

According to the agency, the case dates back to August 2, 2017, and involves fraudulent housing loans issued in connivance with a private builder, M/s Shree Balaji Hitech Construction Pvt. Ltd.

'Harsh Sharma had remained absconding since the registration of the case and had not joined the investigation despite repeated notices. Today, i.e., July 4, 2025, he was arrested after executing a Non-Bailable Warrant issued by the Hon'ble Court,' the CBI said in a statement.

The investigation revealed that Harsh Sharma had entered into a criminal conspiracy with the builder and provided fraudulent KYC documents, on the basis of which Punjab National Bank was induced to disburse housing loans, the CBI said.

Sharma was one of the bogus buyers of a flat that was allegedly sold on paper to multiple fake buyers in order to fraudulently secure bank loans, it said.

The CBI had filed a chargesheet in the case before the Special Judicial Magistrate (CBI), Ghaziabad, on March 19, 2024.

Following his arrest, Sharma was produced before the Court, which has remanded him to judicial custody till July 15. Further investigations into the matter are still underway. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.

More Information

null in null

Business

Section

Grammarly acquires Superhuman to boost AI workplace tools

SAN FRANCISCO, California: Grammarly is doubling down on AI-powered productivity tools with the acquisition of Superhuman, a sleek...

Standard and Poor's 500 and and Nasdaq Composite close at record highs

NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European...

Persson family steps up H&M share purchases, sparks buyout talk

LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...

L'Oreal to buy Color Wow, boosts premium haircare portfolio

PARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...

Robinhood launches stock tokens for EU investors, adds OpenAI

MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...

Wall Street diverges, but techs advance Wednesday

NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...

Delhi

Section

"Josh is very high" Indian diaspora eagerly awaits PM Modi in Argentina

Buenos Aires [Argentina], July 5 (ANI): Members of the Indian diaspora are eagerly awaiting Prime Minister Narendra Modi's arrival...

CBI arrests absconding accused in 8-year-old housing loan fraud case

New Delhi [India], July 5 (ANI): The Central Bureau of Investigation (CBI) on Friday arrested an absconding accused, Harsh Sharma,...

India to gift 2000 laptops to school students in Trinidad and Tobago, extends OCI Card facility up to 6th generation: MEA

Port of Spain [Trinidad and Tobago], July 5 (ANI): During his visit to Trinidad and Tobago Prime Minister Narendra Modi made a number...