The Anti-Corruption Bureau (ACB) on Friday filed a charge sheet against three people, including two officials of the Jammu and Kashmir Bank, in connection with the ₹270 crore loan fraud case.
“ACB presented a charge sheet against Raj Singh Gehlot, Managing Director, Aman Hospitality Private Limited, Rakesh Kumar Kharyal and Kuldeep Gupta, then Managers of J&K Bank, Ansal Plaza Branch, New Delhi, and others in ₹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 the of the J&K Bank’s Ansal Plaza branch in the national capital.
“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 said firm, the loan amounts so sanctioned were declared as NPA to facilitate the firm to have a one time settlement to its advantage,” the spokesperson 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 ₹866.89 crore but investigation revealed that the loans were diverted for various other purposes and misappropriated by the borrower Raj Singh Gehlot.
“Investigation has established that out of the ₹100 crore sanctioned as term loan in the first phase to M/s AHPL an amount of ₹35 crore has been diverted by Raj Singh Gehlot,” he added.
Mr. 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 ₹35 crores, he said. “Further investigation into the remaining diversions is in progress apart from the allegations of illegally entering into an OTS to the firm advantage by J&K Bank officials,” the spokesperson added.