The Central Bureau of Investigation (CBI) on Thursday arrested Managing Director of Radius Developers Sanjay Chhabariya in a cheating case related to the Yes Bank and Dewan Housing Finance Limited (DHFL) scam case.
In February this year, the CBI conducted searches at the premises of Radius Developers in Mumbai and Pune.
In the investigation, the CBI found that a substantial part of the Rs 3,000 crore that DHFL received from the Rana Kapoor-led Yes Bank as an investment a few years ago, was diverted to the Radius group.
The realty company had borrowed from DHFL to finance a residential project in suburban Mumbai.
He will be produced before a court on Friday in Mumbai.
( With inputs from ANI )
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