FIR Against Niira Radia For Alleged Embezzlement of Funds

Niira Radia is back in the news. The former public relations officer has been accused of allegedly embezzling funds. The economic offence wing of the New Delhi Police has lodged a First Information Report (FIR) against Radia and three other people.

As per Outlook, the case has been registered on the complaint of Dr Rajeev Kumar Sharma, vice-chairman and executive director of Nayati Healthcare and Research NCR Private Limited (NHNCR), earlier known as OSL Healthcare Private Limited (OSLHPL).

The complaint by Sharma alleges that Niira Radia along with three other persons used a bank loan meant for hospital construction for their personal use.

Sharma has alleged that the loan taken for two hospitals - Primamed Hospital in Gurugram and Vimhans Hospital in Delhi – has been siphoned by Radia and her associates for personal use. 

Calling it “brazen cheating,” Sharma claimed they “embezzled Rs 312.50 crore by opening fictitious bank accounts in the name of various well-known contractors and directly transferred loan money into these accounts.” Dr Sharma maintains that the condition of the Gurugram hospital is seriously suffering and that the loan was to have been spent on construction. 

Dr Sharma has also claimed fraud on other counts, such as when Radia and others “deceitfully got the balance sheet” signed by him, and later made changes to the entries. The FIR also mentions that they “entered into various fictitious transactions with various vendors.” YES Bank has also been named in the alleged conspiracy, with claims that it provided loans without thorough checks as per the Outlook re

Radia’s Organisation Responds To FIR 

NHNCR responded to Dr Sharma’s complaint through a press statement, denying the charges. Calling them baseless, it said that his claims were resultant of some “differences” between them in the past, regarding past management. 

It further quotes, “Nayati Healthcare NCR remains committed to cooperating with investigations and reposes its full faith in the investigating agency. All evidence of the forensic audit which demonstrates an act of misappropriation by Dr Rajeev Sharma has been provided to the police.” 

Who is Niira Radia?

Niira Radia is a former public relations officer who worked closely with the Tata Group. At the early stage of her career, Radia became an expert in the aviation sector, and joined Sahara Airlines. After that she continued to work in aviation consulting plane-leasing and other services. Radia shot to fame when she got involved in the dialogue between Singapore Airlines and Tata Group for a partnership which back then didn't eventually materialise. However, post that interaction, Radia started working for the Tatas in some form or the other. She was perceived to be close to Ratan Tata. Later she was the main lobbyist talked about in the controversial Radia Tapes that led to revelations in the 2G scam. After that, Radia became the Chairperson of Nayati Healthcare.