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New Delhi:
The Enforcement Directorate raided seven premises of a Delhi-based realtor on Friday in reference to a money-laundering case in opposition to him and his firm over an alleged financial institution mortgage fraud of Rs 800 crore and irregularities within the building of a five-star lodge.
Searches had been performed on the workplaces of the Aman Hospitality Pvt Ltd (AHPL) and different corporations of the Ambience group, and the residences of its administrators Raj Singh Gehlot, Dayanand Singh, Mohan Singh Gehlot and their associates, the ED mentioned in an announcement.
Cash, together with overseas foreign money, value Rs 40 lakh was “seized from the residence of Raj Singh Gehlot,” it mentioned. “Several incriminating documents and digital evidences were also seized during the search.”
The case below the Prevention of Money Laundering Act relies on an FIR by the Jammu anti-corruption bureau final yr in opposition to the AHPL and its administrators for cash laundering over the development and growth of the Leela Ambience Convention Hotel on Maharaj Surajmal Road in Delhi, the ED mentioned.
A probe discovered {that a} “huge part” of an over Rs 800-crore mortgage, which was sanctioned by a consortium of banks for the challenge, was siphoned off by the AHPL, Raj Singh Gehlot and his associates via a “web of companies owned and controlled by them”, the company claimed.
“A substantial part of the loan money was transferred by AHPL to several companies and individuals on the pretext of payment of running bills and advance for supply of material/and work executed,” it mentioned.
The workers of Ambience Group and Raj Singh Gehlot’s associates had been made the administrators and proprietors of those corporations and he was the “authorized signatory” in lots of of those corporations, in accordance with the ED.
The investigation discovered that “no material was supplied and no work was executed and almost the entire amount was immediately routed back to the entities owned by Raj Singh and Sons HUF (Hindu undivided family) and his brother’s son”, the ED mentioned.
“Money was further siphoned off through multiple layers in a complex web of group entities,” it added.
(Except for the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)
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