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JAMMU: Special Judge Anti-corruption Srinagar grants bail to Raj Singh Gehlot, MD Aman Hospitality Private Limited in Rs 270 crore J&K Bank fraud loan case.
While granting bail, Special Judge Anti-Corruption Srinagar, C L Bavoria observed that perusal of record revealed that FIR has been registered against the accused in 2019 and since then accused has not been arrested, however he has been called during investigation but he not co-operated with investigating agencies. 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 before this court, the accused tried to win over or influence the prosecution witnesses. “Having taken in regard the above stated facts and that the other accused persons in this case have already been granted bail, 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 on furnishing bail bond of Rs. One lakh with one surety before the 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 directed.
According to ACB, a charge-sheet against Raj Singh Gehlot, Managing Director, Aman Hospitality Private Limited; Rakesh Kumar Kharyal and Kuldeep Gupta, Managers of J&K Bank, Ansal Plaza Branch, New Delhi and others in Rs 270 crore J&K Bank loan fraud case,” a spokesperson of the ACB said in a statement. He said a case was registered in July 2019 to probe allegations of financial irregularities in the loans availed by M/s Aman Hospitality Private Limited, New Delhi, from J&K Bank’s Ansal Plaza branch in the national capital.
“It was alleged that officers of J&K Bank Ansal Plaza branch had given loan worth crore to this firm and in connivance with the aforesaid firm, the loan amounts so sanctioned were declared as NPA to facilitate the firm to have a onetime settlement to its advantage,” an ACB official said.
He said 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.”Investigation has established that out of the Rs 100 crore sanctioned as term loan in the first phase to M/s AHPL an amount of Rs 35 crore has been diverted by Raj Singh Gehlot,” he added. Gehlot, in connivance with the bank officials and other co-accused, through fictitious firms and layering the funds through other banks in a complex maze of transactions had cheated the bank to the tune of Rs 35 crores, he added.