The INS News
No Result
View All Result
  • Home
  • News
    • Regional
    • Srinagar
    • Jammu
    • National
    • World
  • Business & Economy
  • Multimedia
    • Photo Gallery
    • Video Gallery
  • Health
  • Jobs & Careers
  • Press Releases
  • Blog
  • Home
  • News
    • Regional
    • Srinagar
    • Jammu
    • National
    • World
  • Business & Economy
  • Multimedia
    • Photo Gallery
    • Video Gallery
  • Health
  • Jobs & Careers
  • Press Releases
  • Blog
No Result
View All Result
The INS News
No Result
View All Result
Home News Regional

Rs 270Cr Loan Fraud Case: ACB Files Chargesheet Against MD AHPL, 2 Ex-Managers JK Bank, Others

INS Desk by INS Desk
March 26, 2021
A A
No govt plots available on sale anywhere: Govt, cautions public against land fraudsters
Share on FacebookShare on TwitterWhatsappTelegramEmail

Srinagar, March 26: Anti-Corruption Bureau on Friday filed a charge sheeted against Managing Director, Aman Hospitality Private Ltd., two former Managers of J&K Bank’s Ansal Plaza Branch, New Delhi, and others in connection with 270 Crore J&K Bank loan fraud case.

RELATED POSTS

CS pushes forward J&K’s IT revolution with BISAG-N

No local was involved in Pahalgam terror attack: CM Omar

Omar-led govt putting every effort to restore J&K statehood, special status: Deputy CM

The ACB has registered a the case (FIR No. 15/2019) on 24 July 2019 at police station ACB  Srinagar on the basis of an information which was the outcome of a verification conducted into the allegations of financial irregularities in the loans availed by M/s Aman Hospitality Pvt. Ltd. New Delhi from the Ansal Plaza Branch of the J&K Bank New Delhi, ACB said in a statement issued.

“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 firm the loan amounts so sanctioned were declared as NPA to facilitate the firm to have a One Time Settlement to its advantage.”

The firm had apparently availed Rs 227 crores as term Loan alongwith Bank guarantee of Rs. 15 crores for the construction of a five star hotel in Delhi with a project cost estimated at Rs. 866.89 crores, the ACB said.

“The rest of the loans were availed from other banks by the firm as part of consortium loan for construction of the five-star hotel,” it said.

The firm had pledged mortgaged land including the building of five-star hotel and rentals which would accrue on the commercial area which was proposed to be leased out, hypothecation of all other current assets and personal guarantee of Raj Singh Gehlot who was the Managing Director of M/s AHPL worth Rs. 41 crores favouring a consortium of banks including J&K Bank as the lead bank as part of mortgaged properties, it said.

“However, while looking into the allegations mentioned in the FIR investigation revealed that instead of using the loans sanctioned for the purpose of construction of hotel it was diverted / siphoned out for various other purposes and misappropriated by the borrower Raj Singh Gehlot.”

Buy JNews
ADVERTISEMENT

Investigation, the ACB said, also established that out of the Rs. 100 crores sanctioned as Term Loan in the first phase to M/s AHPL an amount of Rs. 35 crores has been diverted by Raj Singh Gehlot Managing Director Of M/s AHPL in connivance with the Bank officials and other co-accused and through fictitious firms which were created for the purpose and also by layering the funds through other banks in a complex maze of transactions. “In this manner they cheated the J&K Bank Ansal Plaza Branch to the tune of Rs. 35 crores. 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.”

A charge sheet has been filed by the Anti Corruption Bureau in the concerned court in Srinagar u/s 120-B, 409, 420 RPC and section 5(1)(c), 5(1)(d) r/w 5(2) of the JK PC Act against Raj Singh Gehlot Managing Director of M/s AHPL and co-accused Mohan Singh, Sheela Gehlot and Madhu Bakshi (private persons) and public servants Rakesh Kumar Kharyal and Kuldeep Gupta who were the erstwhile Managers of J&K Bank Ansal Plaza Branch, New Delhi besides the firms M/s Ambience limited, NGR Consultant Pvt. Ltd. and Raj Commercial & Agencies. “Further investigation in the case is in progress.”

Previous Post

Lawaypora Attack Was Carried By Local LeT Commander With His Relative, Other’s Aide: IGP

Next Post

Minor girl killed, 8 persons injured in Rajouri accident 

INS Desk

INS Desk

Related Posts

Provide ration cards to e-Shram registrants as per SC directions: CS
Regional

CS pushes forward J&K’s IT revolution with BISAG-N

June 24, 2025
Local horse rider was killed as he tried to save tourists: CM Omar
Regional

No local was involved in Pahalgam terror attack: CM Omar

June 24, 2025
Omar-led Govt trying to do all pending works of past 10-years, says Dy CM
Regional

Omar-led govt putting every effort to restore J&K statehood, special status: Deputy CM

June 24, 2025
“Rs 2,000 cr push for counter‑terror ops”: MoD finalises 13 emergency contracts for Indian Army
Regional

“Rs 2,000 cr push for counter‑terror ops”: MoD finalises 13 emergency contracts for Indian Army

June 24, 2025
Will seek suggestions from all stakeholder on academic session restoration: Sakina Itoo
Regional

Marriage assistance should not be linked to education: Sakina Itoo

June 24, 2025
Woman falls off ridge in Poonch, dies
Regional

2 killed, 9 injured in Rajouri accident

June 24, 2025
Next Post
Two killed, three injured in Kupwara road accident

Minor girl killed, 8 persons injured in Rajouri accident 

3 IAS officers attached to H&ME for assisting in Coronavirus mitigation efforts in J&K

J&K Reports Highest Single Day Spike In Covid-19 Cases So Far This Year

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *




Dr Kaiser Ahmad Koul made interim principal GMC Srinagar

May 3, 2019
KU hosts 2-day national ‘sirah’ seminar

Three- day workshop on ‘Integrating Content, Technology & Services: A special focus on libraries in J&K’ concludes at KU

October 29, 2018
Police foil Engineer Rasheeds Secretariat march

It is Chankyee politics not Tarka Shastra: Er Rasheed to Modi

August 6, 2017

About

Indian News Service (INS) is the first registered online news portal from the state of Jammu & Kashmir. Our creative team consists of like-minded and socially concerned team of media professionals who carry decades of experience in their field of profession at their back. Our core values have pillars in honesty, empathy, credibility, equality and integrity.

More

© 2022 INS News - Designed by GITS.

No Result
View All Result
  • Home
  • News
    • Regional
    • Srinagar
    • Jammu
    • National
    • World
  • Business & Economy
  • Multimedia
    • Photo Gallery
    • Video Gallery
  • Health
  • Jobs & Careers
  • Press Releases
  • Blog

© 2022 INS News - Designed by GITS.