Nidae KashmirSrinagar, March 26: Anti-Corruption Bureau on Friday filed a charge-sheeted against Managing Director, Aman Hospitality Private Ltd., two former Managers of J&K Bank’s Ansal Plaza Branch, New Delhi, and others in connection with 270 Crore J&K Bank loan fraud case.
The ACB has registered a the case (FIR No. 15/2019) on 24 July 2019 at police station ACB Srinagar on the basis of information which was the outcome of a verification conducted into the allegations of financial irregularities in the loans availed by M/s Aman Hospitality Pvt. Ltd. New Delhi from the Ansal Plaza Branch of the J&K Bank New Delhi, ACB said in a statement issued here to GNS.
“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 Rs 227 crores as term Loan alongwith Bank guarantee of Rs. 15 crores for the construction of a five-star hotel in Delhi with a project cost estimated at Rs. 866.89 crores, the ACB said.
“The rest of the loans were availed from other banks by the firm as part of consortium loan for construction of the five-star hotel,” it said.
The firm had pledged mortgaged land including the building of five-star hotel and rentals which would accrue on the commercial area which was proposed to be leased out, hypothecation of all other current assets, and personal guarantee of Raj Singh Gehlot who was the Managing Director of M/s AHPL worth Rs. 41 crores favouring a consortium of banks including J&K Bank as the lead bank as part of mortgaged properties, it said.
“However, while looking into the allegations mentioned in the FIR investigation revealed that instead of using the loans sanctioned for the purpose of construction of hotel it was diverted/siphoned out for various other purposes and misappropriated by the borrower Raj Singh Gehlot.”
