The CBI filed an FIR against Raj Singh Gehlot, the owner of Gurugram’s Ambience Mall, for allegedly defrauding Jammu & Kashmir Bank by taking out loans worth Rs.289 billion.
Ambience Mall owner Raj Singh Gehlot’s company is said to have received hundreds of rupees in loans from J&K Bank. (Photo: Twitter)
The Central Bureau of Investigation (CBI) has filed an FIR against Raj Singh Gehlot, the owner of Gurugram’s Ambience Mall, in an over 289 billion rupee fraud case involving Jammu & Kashmir Bank. Along with Raj Singh Gehlot, a number of bank officials were investigated for alleged conspiracy to defraud public funds.
According to the FIR, a copy of which is available from India Today, the Anti-Corruption Bureau (ACB) has investigated allegations that officials at the Ansal Plaza branch of J&K Bank in New Delhi are holding hundreds of rupees in loans in Delhi Name given to the company by Raj Singh Gehlot, Aman Hospitality Private Limited.
Later, with the approval of the company and bank officials, the loan amount was declared a non-performing asset (NPA) to facilitate a one-time settlement to give the company an advantage.
Aman Hospitality Private Limited, officials said, has received a term loan of Rs 227 billion. He had bought Rs.15 billion as a bank guarantee while he was taking the remainder of the loan from J&K Bank against a mortgage on project land of 20,000 square feet. The project included the construction of a five-star deluxe hotel complex in Delhi’s Shahdara.
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The Rs 227 billion temporary loan was granted to him between 2009 and 2013.
J&K Bank officials were charged with assisting Raj Singh Gehlot and the promoter directors of Aman Hospitality Limited, Dayanand Singh and Aman Gehlot, in the commission of the fraud.
“J&K Bank illegally and maliciously repaid a loan amount of Rs. 128.94 billion against the total outstanding amount of Rs. 289.28 billion, which was less than the face value of Rs. 261.47 billion,” said CBI officials.
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