Probe Agency Raids Delhi Realtor's 7 Premises In Rs 800 Crore Bank Fraud

Searches had been performed at places of work of the AHPL and different corporations of Atmosphere group.

New Delhi:

The Enforcement Directorate raided seven premises of a Delhi-based realtor on Friday in reference to a money-laundering case in opposition to him and his firm over an alleged financial institution mortgage fraud of Rs 800 crore and irregularities within the building of a five-star resort.

Searches had been performed on the places of work of the Aman Hospitality Pvt Ltd (AHPL) and different corporations of the Atmosphere group, and the residences of its administrators Raj Singh Gehlot, Dayanand Singh, Mohan Singh Gehlot and their associates, the ED stated in an announcement.

Money, together with overseas forex, value Rs 40 lakh was “seized from the residence of Raj Singh Gehlot,” it stated. “A number of incriminating paperwork and digital evidences had been additionally seized through the search.”

The case below the Prevention of Cash Laundering Act is predicated on an FIR by the Jammu anti-corruption bureau final 12 months in opposition to the AHPL and its administrators for cash laundering over the development and improvement of the Leela Atmosphere Conference Resort on Maharaj Surajmal Highway in Delhi, the ED stated.

A probe discovered {that a} “enormous half” of an over Rs 800-crore mortgage, which was sanctioned by a consortium of banks for the challenge, was siphoned off by the AHPL, Raj Singh Gehlot and his associates via a “internet of corporations owned and managed by them”, the company claimed.

“A considerable a part of the mortgage cash was transferred by AHPL to a number of corporations and people on the pretext of cost of operating payments and advance for provide of fabric/and work executed,” it stated.

The staff of Atmosphere Group and Raj Singh Gehlot’s associates had been made the administrators and proprietors of those corporations and he was the “approved signatory” in lots of of those corporations, in line with the ED.

The investigation discovered that “no materials was equipped and no work was executed and nearly your complete quantity was instantly routed again to the entities owned by Raj Singh and Sons HUF (Hindu undivided household) and his brother’s son”, the ED stated.

“Cash was additional siphoned off via a number of layers in a fancy internet of group entities,” it added.

(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)

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