CBI Raids 3 Businessmen in Yes –DHFL Fraud Case                                     

The Central Bureau of Investigation (CBI) on Saturday conducted searches on premises linked to Pune-based businessman Avinash Bhosale and Mumbai based realtors Vinod Goenka and said Bawl in connection with its probe in the yes Bank DHFL fraud case, people in the know told ET. The searches were carried out at eight locations in Mumbai and Pune, they said the raids come days after the federal agency arrested another city based real estate developer, Sanjay Chhabra in the said matter. On Friday, while seeking Chhabra’s remand CBI told a special court here that he had allegedly misappropriated more than 3000 Crore in the said case The court has remanded Chhabra in CBI custody till May 6.

Chhabra in the managing director of Radius group ,one of the biggest borrowers from bankrupt housing finance company DHFL, with an outstanding loan and interest component of around 3000 crore DHFL is one of the defaulters of Yes Bank DHFL’s  promoters Kapil and Deere Wadhawan are currently in jail in connection with cases registered by the CBI and the Directorate of Enforcement (ED) over alleged fraud caused to Yes Bank in connivance with the bank’s cofounder Rana Kapoor who is lodged at Talofa jail on the outskirts of Mumbai The Central Bureau of Investigation told a special court that its investigation had revealed that immediately after Yes Bank invested 2700 crore in non –con veritable debentures (NCDs) of DHFL in June 2018, the housing finance company appraised and sanctioned loans to Radius Estate Projects Pvt Ltd (REPL) and summer Radius Realty Pvt Ltd (SRPL), Two companies controlled by Chhabra, for a residential project in suburban Mumbai In February, the agency raided premises linked to Radius group and questioned Chhabra. S-ET

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