Excelsior Correspondent
JAMMU, Nov 30: Special Judge Anticorruption Srinagar C L Bavoria has granted bail to Raj Singh Gehlot, MD Aman Hospitality Private Limited in Rs 270 crore J&K Bank fraud loan case.
“The perusal of record reveals that the FIR has been registered against the accused in the year 2019 and since then accused has not been arrested, however he has been called during investigation and he has co-operated with investigating agencies”, the court observed, adding “moreover, there is nothing in the file from which it could be inferred that from date of registration of FIR till filing of charge sheet the accused tried to win over or influence the prosecution witnesses”.
“The other accused persons in this case have already been granted bail as such the applicant has been able to carve out a prima facie for grant of bail. Accordingly, allowing the prayer, the accused Raj Singh Gehlot is admitted to bail in this FIR on furnishing bail bond of Rs one lakh with one surety before this court and a personal bond of the like amount with the conditions that he shall not directly or indirectly make any inducement, threat, or promise to any person acquainted with the facts of the case so as to dissuade him to disclose such facts to the court or any other authority”, the court ordered.
A charge sheet has been filed against Raj Singh Gehlot, Managing Director, Aman Hospitality Private Limited, Rakesh Kumar Kharyal and Kuldeep Gupta, then Managers of J&K Bank, Ansal Plaza Branch, New Delhi, and others in Rs 270 crore J&K Bank loan fraud case.
It was alleged that the officers of J&K Bank Ansal Plaza branch had given loan worth crores of rupees to this firm and in connivance with the firm, the loan amounts so sanctioned were declared as NPA to facilitate the firm to have a one-time settlement to its advantage.
The firm had apparently availed loans for the construction of a five star hotel in Delhi with a project cost estimated at Rs 866.89 crore but investigation revealed that the loans were diverted for various other purposes and misappropriated by the borrower Raj Singh Gehlot.
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