New Delhi [India], July 29 (ANI): The Enforcement Directorate on Thursday sought 14-day remand of businessman Raj Singh Gehlot, owner of the Gurugram-based Ambience Mall, who was arrested in a money laundering case related to an alleged bank fraud case.
The ED presented Gehlot before Delhi’s Patiala House Court today seeking 14-day remand of the businessman. The accused was produced through video conferencing before Additional Sessions Judge Dharmender Rana.
Senior advocate Vikas Pahwa and advocate Tanveer Ahmad Mir represented the accused businessman while advocate Amit Mahajan (standing counsel for the Central Government) and Naveen Kumar Matta, Special Public Prosecutor appeared for the ED in the matter.
The ED arrested Gehlot earlier in the day in an alleged bank loan fraud case worth more than Rs 800 crore. He was arrested under the Prevention of Money Laundering Act, 2002 (PMLA) for committing bank fraud against the Jammu and Kashmir Bank Consortium.
Last year, the ED had initiated an investigation under PMLA on the basis of an FIR registered by State ACB, Jammu against Aman Hospitality Pvt Ltd (AHPL) and its Directors for money laundering in the construction and development of the 5-star 'Leela Ambience Convention Hotel' situated near the Yamuna Sports Complex in Delhi, the investigation agency said.
It stated that investigation under PMLA revealed that a huge part of a loan amount of more than Rs 800 crore, which was sanctioned by a consortium of banks for the hotel project, was siphoned off by AHPL and Raj Singh Gehlot and his associates through a web of companies controlled by them. (ANI)