New Delhi: Former State Bank of India chairman Pratip Chaudhuri was arrested on Sunday from his Delhi residence in a loan scam case. He was arrested from his Delhi residence in case involving a hotel in Jaisalmer, The Times of India reported. The case is related to properties owned by Godawan Group which took Rs 24 crores loan from SBI in 2008 to construct a hotel.
The Jaisalmer police today informed that Pratip Chaudhuri has been sent to 14-day judicial custody.
Godawan Group reportedly took out a loan of Rs 24 crore from the SBI in 2008 for constructing a hotel, even as the firm’s other hotel was operating at the time. However, it wasn’t late till the hotel was termed Non-Performing Assets (NPA) over non-repayment of the loan. Later, the bank went on to seize both the hotels of the Godawan Group and sell them to the Alchemist ARC Company at Rs 25 crore.
Due to this, the Godawan Group approached the court. During assessment of the sold properties in 2017 after Alchemist ARC took over them the preceding year, it was revealed that their market value was at ₹160 crore. Currently, the cost of the properties is evaluated to ₹200 crore, reports stated.