JAMMU, Sept 4: The Central Bureau of Investigation (CBI) has filed an FIR against Gurugram’s Ambience Mall owner Raj Singh Gehlot in a fraud case of over Rs 289 crore involving the Jammu & Kashmir Bank.
Along with Gehlot, some Bank officials have also been put under investigation for allegedly conspiring to defraud public money.
According to the FIR, the CBI found the allegations that the officials of J&K Bank’s Ansal Plaza branch in New Delhi had issued loans worth hundreds of crores of rupees in the name of Gehlot’s firm, Aman Hospitality Private Limited.
Later, with the connivance of the firm and bank officials, the loan amount was declared a Non-Performing Asset (NPA) to facilitate one-time settlement. This was done for giving advantage to the firm.
As per sources, Aman Hospitality Private Limited, obtained a term loan of Rs 227 crore. It had acquired Rs 15 crore as bank guarantee limit while availing the rest of the loan amount from the J&K Bank against the mortgage of a project land. The project included building a five-star hotel in Shahdara.
J&K Bank officials have been accused of helping Raj Singh Gehlot and the promoters-directors of Aman Hospitality Limited, Dayanand Singh and Aman Gehlot, in committing the fraud.
“J&K Bank illegally and with malafide intentions settled loan amount for an amount of Rs 128.94 crore against the total outstanding amount of Rs 289.28 crore, which was less than the principal amount of Rs 261.47 crores,” said CBI officials.
Gehlot was arrested by the Enforcement Directorate (ED) in July this year and sent to ED custody for seven days. He questioned about how money was routed to different companies and how he made the J&K Bank settle for Rs 128 crore in place of Rs 289.08 crore.
Gehlot was arrested by the ED on July 28 and produced before a PMLA court via video conferencing on July 30.