Homeindia News

Yes Bank-DHFL case: CBI arrests Radius group MD Sanjay Chhabria

Yes Bank-DHFL case: CBI arrests Radius group MD Sanjay Chhabria

Yes Bank-DHFL case: CBI arrests Radius group MD Sanjay Chhabria
Profile image

By Santia Gora  Apr 28, 2022 9:29:31 PM IST (Published)

Last week, the Enforcement Directorate (ED) had alleged that Yes Bank co-founder Rana Kapoor and Dewan Housing Finance Ltd (DHFL) promoters Kapil and Dheeraj Wadhawan siphoned off funds worth Rs 5,050 crore through suspicious transactions.

The Central Bureau of Investigation has arrested Radius Group Managing Director Sanjay Chabaria in the Yes bank-DHFL money laundering case. Chhabria has been arrested from Mumbai and will be produced in the court on Friday.

Recommended Articles

View All

Radius Group was one of the biggest borrowers of DHFL. The group took loans for a residential project in Mumbai. Radius' loans and interest amounted to Rs 3,000 crore.
Last week, the Enforcement Directorate (ED) had alleged that Yes Bank co-founder Rana Kapoor and Dewan Housing Finance Ltd (DHFL) promoters Kapil and Dheeraj Wadhawan siphoned off funds worth Rs 5,050 crore through suspicious transactions.
The ED had said the investigation has revealed that Yes Bank had bought debentures worth Rs 3,700 crore between April 2018 and June 2018 from DHFL. Therefore, the amount was transferred to DHFL. Subsequently, DHFL gave a loan of Rs 600 crore to DOIT Urban Ventures Pvt Ltd (an entity, beneficially owned by Rana Kapoor and his family).
(This is a developing story. Keep checking back for updates).
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!