Mumbai: Radius Group managing director (MD) Sanjay Chhabria was arrested by the CBI on Thursday in connection with the Yes Bank-DHFL money laundering case. He will be produced before a special CBI court in Mumbai on Friday. In February, the CBI had raided six places belonging to Sanjay Chhabria in connection with Radius Developers, said sources. Radius Developers was the largest borrower from Diwan Housing Finance Limited. The CBI has been investigating former Yes Bank co-founder Rana Kapoor and DHFL Ltd since March 2020.
Read: Yes Bank-DHFL case: Rana Kapoor, Wadhawans laundered money worth Rs 5,050 crore, says ED
Radius Developers owes more than Rs 3,000 crore to DHFL. Radius Group was one of DHFL's largest borrowers. The group had taken loans for a residential project in Mumbai. Radius Group's debt and interest were around Rs 3,000 crore. Last week, the Enforcement Directorate (ED) accused Yes Bank co-founder Rana Kapoor and Diwan Housing Finance Ltd promoters Kapil and Dheeraj Wadhawan of siphoning off Rs 5,050 crore through suspicious transactions.
