Loan embezzlement case: Niira Raida questioned by Economic Offences Wing of Delhi Police

Nayati Healthcare chairperson Niira Radia was questioned by the Economic Offences Wing of Delhi Police for around four hours in their office at Mandir Marg in connection with a Rs 300-crore loan embezzlement case.

Police had summoned a notice to her to join the investigation days after two directors of Nayati Healthcare, Yateesh Wahaal and Sarish Kumar Narula, were arrested along with another person, identified as Rahul Singh, in connection with the case. Last year, the police registered an FIR against Radia and the directors after an orthopaedic surgeon, Dr Rajeev Kumar Sharma, lodged a complaint against Naarayani Investment Pvt Ltd – the holding company of Nayati Healthcare – and its promoters and directors Radia, her sister Karuna Menon, Narula and Wahaal. They were accused of fraud and embezzlement of funds among other charges.

Police said Niira came to join the investigation on October 27 at the EOW’s office in Mandir Marg at around 12.15 pm, and police started questioning her at around 2 pm. “We have questioned till 6 pm and asked around 50 questions from her. She gave a reply to all the questions. We will summon her again in the coming days,” a senior police officer said.

A spokesperson for Nayati Healthcare had denied the allegations against Radia, saying the FIR is “baseless” and allegations of misappropriation were being looked into by the company board. According to the FIR, the accused took loans for two hospitals where Sharma held “key positions” – Nayati Medicity in Gurgaon and VIMHANS in Delhi. Sharma alleged that they deceitfully acquired a major share in the two projects from him through Naarayani Investment Pvt Ltd, later renamed Nayati Healthcare NCR.

Sharma alleged the accused took Rs 300 crore loan to develop the hospital and then made “fictitious accounts” to transfer the loan money for personal use.

Additional CP (EOW) R K Singh had said, “After receiving a loan of Rs 312 crore from Yes Bank, a sum of Rs 208 crore was transferred to a bank account in the name of Ahluwalia Construction. On verification, it was found that the account was opened by Singh. The transfers were authorised by Wahaal and Narula.”

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