3 chargesheeted in J&K Bank fraud case

Those in dock

The chargesheet names Raj Singh Gehlot, Managing Director, Aman Hospitality Private Limited; Rakesh Kumar Kharyal and Kuldeep Gupta, then Managers of J&K Bank, Ansal Plaza Branch, New Delhi

Srinagar, March 26

The Anti-Corruption Bureau (ACB) on Friday filed a chargesheet against three persons, including two officials of the Jammu and Kashmir Bank, in connection with Rs 270-crore loan fraud.

“The ACB presented a chargesheet against Raj Singh Gehlot, Managing Director, Aman Hospitality Private Limited, Rakesh Kumar Kharyal and Kuldeep Gupta, then Managers of J&K Bank, Ansal Plaza Branch, New Delhi, and others in the Rs 270-crore J&K Bank loan fraud case,” a spokesperson of the ACB said in a statement.

He said a case was registered in July 2019 to probe allegations of financial irregularities in the loans availed by M/s Aman Hospitality Private Limited, New Delhi, from the of the J&K Bank’s Ansal Plaza Branch in the national capital.

“It was alleged that officers of J&K Bank’s Ansal Plaza branch had given loan worth crores to this firm and in connivance with the said firm, the loan amount so sanctioned was declared NPA to facilitate the firm to have a one-time settlement to its advantage,” the spokesperson said.

He said the firm had apparently availed loans for the construction of a five-star hotel in Delhi with a project cost estimated at Rs 866.89 crore, but investigation revealed that the loans were diverted for various other purposes and misappropriated by the borrower Raj Singh Gehlot.

“Investigation has established that out of the Rs 100 crore sanctioned as term loan in the first phase to M/s AHPL, Rs 35 crore was diverted by Raj Singh Gehlot,” he added. — PTI