The Enforcement Directorate on Friday attached a multi-storeyed commercial complex, worth more than Rs 252 crore, in Delhi’s Shalimar Bagh area in connection with a money laundering investigation linked to an alleged bank fraud case against the Ambience Group.
The money laundering case stems from an FIR and chargesheets filed by the Jammu and Kashmir anti-corruption bureau that found that a company named Aman Hospitality Pvt. Ltd, through its promoter director 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 immovable property is named Ambience Tower and it belongs to a company called Ambience Towers Pvt Ltd, a firm of the Ambience Group promoted by Raj Singh Gehlot, the agency said in a statement.
A provisional order, under the Prevention of Money Laundering Act (PMLA), was issued by the ED to attach the commercial building worth a total Rs 252.17 crore.
“The loan amount later turned into an NPA. During investigation, it was revealed that Gehlot had diverted loan funds and layered the same through a web of bank accounts belonging to his relatives and Ambience Group companies,” the ED said.
Apart from the diversion of funds, it was also found that Gehlot “diverted” materials to the other project sites of the Ambience Group, it said.
Gehlot was arrested by the ED in September, 2021 in this case.
His wife Sheela Gehlot and other directors of the Ambience Group such as Amit Gehlot, Shamsher Singh and Pawan Singh were also named as accused in the chargesheets filed by the ED earlier.
The agency earlier attached assets worth Rs 20.20 crore belonging to Raj Singh Gehlot, his family members and the Ambience Group companies.
(With PTI inputs)