ED attaches Rs 252 crore worth commercial property ‘Ambience Tower’ in bank fraud case
Kanwar Inder Singh/ March 24,2023
Enforcement Directorate (ED) has attached immovable property in the form of commercial Tower namely Ambience Tower, Shalimar Bagh, Delhi worth Rs.
252.17 Crore belonging to M/s Ambience Towers Pvt. Ltd, a company of Ambience Group, promoted by Raj Singh Gehlot in connection with a money laundering investigation, under PMLA, 2002.
ED initiated Investigation on the basis of FIR and subsequent chargesheet filed by Anti-Corruption Bureau, Jammu and Kashmir under the Provisions of Ranbir Penal Code, 1989 and Prevention of Corruption Samvat Act, 2006. PMLA investigation revealed that M/s Aman Hospitality Pvt. Ltd through its promoter director Raj Singh Gehlot was sanctioned Term Loan facility of Rs. 810 Crore by a Consortium of Banks led by J&K Bank to part finance its hotel project in Shahdara, Delhi. The Loan Amount later turned into an NPA. During investigation, it was revealed that Raj Singh Gehlot had diverted loan funds and layered the same through a web of bank accounts belonging to his relatives and Ambience Group companies. In addition to diversion of funds, it was also found that Raj Singh Gehlot had diverted materials to the other project sites of Ambience Group.
Pursuant to findings, Raj Singh Gehlot was arrested on 28.07.2021. His wife, Sheela Gehlot and other directors of Ambience Group Companies namely Amit Gehlot, Shamsher Singh and Pawan Singh were arraigned as accused in the Prosecution Complaints filed by the ED.
Further, ED has filed Prosecution Complaints dated 24.09.2021 and 17.11.2022 in the present case before the PMLA Court, Patiala House Courts, New Delhi for commission of offence of Money Laundering. The PMLA Court took the cognizance vide order dated 27.09.2021 and 30.11.2022.
ED attaches Rs 252 crore worth commercial property ‘Ambience Tower’ in bank fraud case. Earlier, ED had attached movable/immovable properties worth Rs. 20.20 Crore belonging to Raj Singh Gehlot, his family members and Ambience Group Companies.
Further Investigation in the matter is under progress.