Rahul Gaur, the son of real estate group Gaursons' chairman B L Gaur, and his wife Navneet have been booked by the Central Bureau of Investigation (CBI) for allegedly cheating Bank of Baroda and Syndicate Bank to the tune of Rs 80 crore in the name of a high-end residential complex planned by their firm Brys International Private Limited, officials said on Friday.

The company had taken a credit of Rs 250 crore (Rs 150 crore from the Bank of Baroda, Rs 100 crore from the Syndicate Bank) for developing a high-end residential complex comprising 291 luxury apartments at Sector 150, Noida, they said.

Bank of Baroda has alleged in a complaint that Rs 80 crore was disbursed by the banks, but the project was left in the lurch in its initial stages, the officials said.

It is alleged that the initial deposits by the buyers should have been credited to the escrow account but it was not done, they added. A forensic audit of the company's account showed round-tripping and diversion of funds, opaque functioning and misrepresentation of facts, the officials said.

The account had turned a non-performing asset in 2015 with Rs 80 crore outstanding, they added.