CBI has arrested the prominent city builder Sanjay Chabbria in fraud cases pertaining to Yes Bank and DHFL recently in Mumbai, know his net worth and cars collection
The Central Bureau of investigation arrested Sanjay Chabbria of his radius group on Thursday in a cheating case related to Yes Bank and Dewan Housing Finance Corporation Ltd (DHFL) scam. The Crime Branch likely produced Chabbria in front of the court on the 29th of April 2022.
Builder Sanjay Chabbria Raduis Developers Biography, Age, Family, Cars, Net Worth And CBI Yes Bank Arrest News
The CBI had searched the house and business premises of Sanjay Chabbria in the case previously.CBI learned that in past few years, a substantial part of the Rs 3,700 crore that DHFL received from the Rana Kapoor-led Yes Bank as an investment, had diverted to the Radius group. Later on, the DHFL defaulted on the Yes Bank loan.
The Yes Bank has additionally sanctioned a Rs 750-crore loan of DHFL group company for a slum rehabilitation project at the Bandra Reclamation but the money was siphoned off and not used for the right project.
The Radius and the Sumer groups were developing a joint venture project at the Santacruz for which they had taken a Rs 750-crore loan from the Yes Bank and were facing difficulty to repay it. From the Rs 750 crore loan that the DHFL received from Yes Bank, it diverted more than R$ 400 crore to the Radius- Sumer group. They used this money to pay their existing dues to the Yes Bank.
It was reported that in the lieu of Yes Bank’s fraudulent investment loan, Rana Kapoor received more than Rs 550 crore as kickback from the group of DHFL. The Crime Branch Investigation had also conducted an investigation initially which was related to the suspicious transactions with the Radius Group. The CBI examined business dealings between the DHFL and the other group Radius.
Sanjay Chabbria Professional Career
Sanjay Chabbria is the MD of the Radius Summer Builders group. Before being posted as the MD at radius, he was the MD at Wadhwa Group. He has worked with Wadhwa Group for almost 20 years. The 51 year old Mumbai based business had gone on an insane spending spree with Radium with him opening the purse of his strings to buy scores of high value properties to redevelop into highrise apartments
The Tesla Model X was imported in October 2018 by Sanjay Chhabria of Radius Developer who owns it. Radius Developers has built several iconic properties in BKC like The Capital and One BKC.
Sanjay Chabbria’s Net Worth
Sanjay Chabbria is estimated to have a net worth of nearly around $100 million as of 2022.
Also Read: Who Is Sammy Toubia The Voice Australia Contestant Life Biography, Age, Family, Education, Instagram, Video – The SportsGrail
Recommended: Sports Fan App