Yes Bank scam: CBI arrests Radius Group MD, Sanjay Chhabria
The Central Bureau of Investigation (CBI) probing the Yes Bank scam Thursday arrested builder Sanjay Chhabria of the Radius group, sources said.
Radius Group was one of the biggest borrowers on the erstwhile DHFL with an outstanding loan with interest of around Rs 3,000 crores for a residential project in suburban Mumbai. The project is a joint venture between Radius and Sumer Group.
Radius group spokesperson wasn’t immediately available for a comment.
The promoters of erstwhile DHFL, Kapil and Dhiraj Wadhawan are currently in jail in connection with the cases registered by CBI and the Enforcement Directorate for the alleged fraud caused to Yes Bank in connivance with the bank’s cofounder Rana Kapoor who is also lodged at Taloja jail on the outskirts of Mumbai.
In September, Piramal Capital and Housing Finance’s (PCHF) had completed the acquisition of DHFL for Rs 34,250 crore which includes a cash component and non-convertible debentures.
As per the CBI, Rana Kapoor, a cofounder of Yes Bank, and his family members had allegedly received kickbacks of around Rs 600 crore for an investment of Rs 3,700 crore made by the bank in housing finance company DHFL’s debentures.
CBI in its two chargesheets filed against Kapoor, his family members and four former junior employees of the bank in connection with the corruption case, which pertains to the loans given to the now bankrupt financial firm DHFL. The accused were summoned and the hearing in the matter was scheduled for Saturday
According to the CBI’s first chargesheet filed last year, in June 2018, Kapoor, then the head of Yes Bank’s management credit committee, sanctioned a loan of Rs 750 crore on an application by DHFL promoters, Dheeraj Wadhawan and his brother Kapil Wadhawan, in the name of Belief Realtors Pvt Ltd for development of a Bandra Reclamation Project.
Comments
Post a Comment