Ambience Mall owner arrested by ED in bank loan fraud case worth Rs 200 crore

The Enforcement Directorate (ED) on Thursday arrested Raj Singh Gehlot, owner of the famous Ambience Mall in Gurugram, in an alleged bank loan fraud case to the tune of Rs 200 crore.

Raj Singh Gehlot was arrested in Gurugram and will be produced before a PMLA court in Delhi today for a remand hearing.

Earlier, the ED raided seven locations in Delhi connected to Raj Singh Gehlot. These included the offices of Aman Hospitality Pvt Ltd (AHPL) and Ambience group, which runs the Ambience Malls in NCR and luxury hotel The Leela

Ambience Convention Centre among other such real estate properties.

On conducting searches at these seven premises, the central investigation agency recovered Rs 16 lakh in cash and Rs 25 lakh in foreign currency.

In the last few months, the ED had brought in Raj Singh Gehlot for questioning on several occasions. Interrogation of the mall owner revealed that the plot of land on which the Ambience Mall in Gurugram is constructed was meant for a housing project. It is being said that Gehlot committed the fraud with the help of politically connected people and government officials.

The ED case is based on an FIR registered by the Anti-Corruption Bureau of Jammu against AHPL and its directors in connection with alleged loan fraud in the construction and development of the 5-star ‘Leela Ambience Convention Hotel’ in east Delhi. The case was registered on a complaint from J&K Bank, which was part of the consortium of banks that had granted the loan.

The ED alleges the loan amount was siphoned off and the money was moved through shell companies floated by Raj Singh Gehlot. S-India Today

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