Bank loan

Gurugram-based Ambience group promoter arrested for bank fraud: The Tribune India


Tribune press service

New Delhi, July 29

The Enforcement Department (ED) today arrested the promoter of the Ambience group based in Gurugram, Raj Singh Gehlot, under the provisions of the Prevention of Money Laundering Act (PMLA) in connection with fraud bank loan of Rs 800 crore, agency officials said.

Rs800 crore siphoned off

The ED in its investigation discovered that “a large part of the loan amount of over Rs800 crore, which was sanctioned by a consortium of banks for a hotel project, was embezzled by Aman Hospitality Private Limited, Raj Singh Gehlot and its associates through a network of companies owned and controlled by them ”.

Officials said Gehlot would soon be brought before a special court here in the nation’s capital and the agency would seek custody of the arrested defendants.

Previously, ED detectives raided Gehlot’s premises, including his company Aman Hospitality Private Limited (AHPL) as well as a few other companies in the Ambience group.

The agency also raided the premises of company director Dayanand Singh, Mohan Singh Gehlot and their associates in July of last year.

Officials said the PMLA case against Gehlot, who is also a promoter of the Ambience shopping center in Gurugram, is based on a 2019 FIR from the Jammu Anti-Corruption Bureau (ACB) against AHPL and its directors for money laundering. presumed in construction. and the development of the five-star Leela Ambience Convention Hotel located at 1, CBD, Maharaj Surajmal Road, near the Yamuna Sports Complex in Delhi.

The ED in its investigation discovered that “much of the loan amount of over Rs 800 crore, which was sanctioned by a consortium of banks for the hotel project, was embezzled by AHPL, Raj Singh Gehlot and its associates through a network of companies owned and controlled by them ”.

“A substantial part of the loan money was transferred by AHPL to several companies and individuals under the pretext of paying current invoices and in advance for the supply of materials and works carried out”, alleged the ED in the FIR .

Employees of the Ambience group and Gehlot partners were appointed directors and owners of these companies and Gehlot was the “authorized signatory” in many of these entities, he said.