Mumbai Police File Fourth FIR Against Builder Sanjay Chhabria Over ₹52 Crore Yes Bank Fraud
Mumbai’s Economic Offences Wing (EOW) has registered a fourth criminal case against builder Sanjay Chhabria, the promoter of Radius Group, over allegations of cheating Yes Bank of ₹52.12 crore.
According to investigators, Chhabria’s firm allegedly diverted funds from a loan meant for a Santacruz real estate project to other linked companies, violating the loan agreement. The case also names his wife, Ritu Chhabria, and others under charges of cheating, criminal breach of trust, and conspiracy.
This marks the fourth FIR against Chhabria, who is already in judicial custody following his arrest by the Central Bureau of Investigation in connection with the larger Dewan Housing Finance Corporation Limited fraud case.
Officials said Yes Bank had sanctioned ₹111 crore in 2016 for the Avenue 54 housing project, but an audit later revealed major irregularities, including alleged fund diversion and double mortgaging of properties. The case adds to a growing list of financial fraud allegations surrounding Chhabria and his business dealings.
News source: Information for this article was gathered from a variety of reliable news outlets.
