The CBI has registered 22 FIRs on the Supreme Court's direction to probe the alleged "unholy nexus" between banks, housing financial corporations and builders who allegedly duped homebuyers in the National Capital Region (NCR).

The CBI has named Jaypee Infratech Ltd, Logix City Developers Ltd, Ajnara India Ltd, Idea Builders Private Ltd, CHD Developers Ltd, Jaypee Associates Ltd, Manju Homes India Ltd and Saha Infratech Pvt Ltd, among others, in its FIRs registered by the economic offences unit of the agency.

"The bankers and financial institutions like the State Bank of India, Indiabulls Housing Finance Ltd, Piramal Finance, HDFC Bank, ICICI Bank, Tata Capital Housing Finance and PNB Housing Finance Ltd, among others, have also been named in the FIRs," a source in the agency said.

Finding a prima facie nexus between renowned banks and builders in the execution of projects in Noida, Greater Noida, Yamuna Expressway, Gurgaon and Ghaziabad, the Supreme Court recently allowed the CBI to convert the six preliminary inquiries it conducted against builders and banks into 22 regular cases for further investigation.

The court order came on a batch of petitions filed by over 1,200 homebuyers who booked flats under subvention plans in various housing projects in NCR. They had alleged that they were being forced by banks to pay EMIs though they had still not been granted possession of their flats by the builders.

A subvention plan is where loan amounts were sent to builders, who in turn were required to pay EMIs until possession of the flats was granted to homeowners.