Mumbai, 12th July 2022: The Economic Crime Branch filed a case against the builder Sanjay Chhabria for financial fraud in Yes Bank. The allegation was that the accused kept the same mortgage to the bank and Dewan Housing Finance Corporation Limited (DHFL) company and borrowed the loan, and the loan amount was diverted to other companies as well. This is the fourth case filed by the Economic Crime Branch against the builder Sanjay Chhabria.
The Economic Crime Branch has registered a case against Summer Radian Reality Director Sanjay Chhabria and Ritu Chhabria. The case was registered after the complaint of Ganesh Warang, Senior Officer, Yes Bank. According to the complaint, a loan of Rs. 51 crores 12 lakh from the bank was not used for the reasons mentioned. The amount was diverted to other retail companies, and Chhabria also violated the terms of the facility letter.
Later, when it was found that many irregularities were reported in the loan amount, the bank complained to the Economic Crime Branch in this regard. Accordingly, the branch is further investigating this case.