Delhi Police registers case against lobbyist Niira Radia for cheating & money siphoning case involving Rs.650 cr loan fraud from Yes Bank & DHFL pay back

Niira Radia caught again for bank loan frauds with Yes Bank and DHFL

Controversial lobbyist Niira Radia is again in the news for more than Rs.650 crore Yes Bank loan frauds linking to DHFL loan involving the case. Delhi Police’s Economic Offences Wing (EOW) has registered a case against Radia and her associates based on a complaint by a doctor who was earlier part of her hospital project. Dr. Rajiv Kumar Sharma was cheated, threatened by the accused. Apart from Niira Radia, the Delhi Police EOW has booked Narayani Investment Private Limited (a company controlled by Niira Radia) her sister Karuna Menon and her longtime associates Satish Kumar Narula and Yateesh Wahaal for cheating, criminal breach of trust, falsification of accounts, fraud, forgery, embezzlement of funds, creating and using forged documents, criminal intimidation, criminal conspiracy, and other charges.

The 14-page First Information Report (FIR) details how Niira Radia and other accused through their firms and her hospital venture Nayati Healthcare collected funds of around Rs.150 crores from controversial DHFL promoter Kapil Wadhawan (now already in jail for Yes Bank frauds) and later took loan Rs.650 crores from Yes Bank to return the money to Wadhawan[1]. The loans were for the construction of the hospital in Gurugram and the complaint says that already so many loans from banks were taken and the loan amount was diverted by Radia and associates.

The Delhi Police EOW’s 14-page FIR clearly shows the allegations of money laundering and the Enforcement Directorate (ED) is also expected to register a case against Niira Radia.

The petitioner doctor who works with VIMHANS (Vidyasagar Institute of Mental Health, Neuro & Allied Sciences) in his complaint said that his shares were also covertly reduced by the accused Radia. The petitioner says including him many doctors were cheated by Radia and associates by not paying money. They were all threatened by the accused including physical intimidation and fake complaints.

Niira Radia after being caught in the 2G Scam-related tape conversations in 2010 was keeping quiet for some time, dissolving her lobbying companies[2]. Her main client was none other than Ratan Tata. By 2013 end she started a hospital chain business, and her hospital was inaugurated by Ratan Tata. Though Supreme Court ordered the CBI to probe into the 12 specific incidents of lobbying caught in the leaked conversation, the CBI, in 2015, diluted the case by informing Supreme Court that the conversations were not criminal in nature.

Now she is again caught for fraudulent activities involving bank loan frauds involving Yes Bank and DHFL, which are already facing probes by CBI and ED. The Delhi Police EOW’s 14-page FIR clearly shows the allegations of money laundering and the Enforcement Directorate (ED) is also expected to register a case against Niira Radia.

References:

[1] Yes Bank case: ED arrests DHFL promoters Kapil and Dheeraj Wadhawan – May 15, 2020, Scroll

[2] Radia tapes controversy – Wikipedia