Radius Group was one of the biggest borrowers on the erstwhile DHFL with an outstanding loan with interest of around Rs 3,000 crores for a residential project in suburban Mumbai. The project is a joint venture between Radius and Sumer Group.
The promoters of erstwhile DHFL, Kapil and Dhiraj Wadhawan are currently in jail in connection with the cases registered by CBI and the Enforcement Directorate for the alleged fraud caused to Yes Bank in connivance with the bank’s cofounder Rana Kapoor who is also lodged at Taloja jail on the outskirts of Mumbai.
In September, Piramal Capital and Housing Finance‘s (PCHF) had completed the acquisition of DHFL for Rs 34,250 crore which includes a cash component and non-convertible debentures.
As per the CBI, Rana Kapoor, a cofounder of Yes Bank, and his family members had allegedly received kickbacks of around Rs 600 crore for an investment of Rs 3,700 crore made by the bank in housing finance company DHFL’s debentures.
CBI in its two chargesheets filed against Kapoor, his family members and four former junior employees of the bank in connection with the corruption case,…
