Buyers question bank loans given for Pirangut projects

In a recent development in the multi-crore DSK scam, a group of homebuyers — who had invested their money in the Pirangut project — have filed complaints with economic offences wing (EOW), demanding action against banks that had disbursed loans. The irked consumers claim that there is a civic dispute pending with the Pirangut land, a fact that was not disclosed by DSK. This fraud came to fore when the buyers started receiving notices from the banks for recovery. The pending loans were also affecting their Cibil records. Furthermore, the consumers found out that no investigating agency had initiated action against the banks for disbursing large loans without verifying the pending dispute. These projects at survey nos. 527, 528,530 and 531 — called Nandanvan, Chaitraban and Pushpaban, respectively — have seen more than 300 investments since 2014. The land dispute was hidden away from these investors.