ACB files chargesheet against three in J&K Bank loan fraud case

Srinagar, Mar 26 (PTI):
The Anti-Corruption Bureau on Friday filed a chargesheet against three people, including two officials of the Jammu and Kashmir Bank, in connection with Rs 270 crore loan fraud case. “ACB presented a chargesheet against Raj Singh Gehlot, Managing Director, Aman Hospitality Private Ltd, Rakesh Kumar Kharyal and Kuldeep Gupta, then Managers of J&K Bank, Ansal Plaza Branch, New Delhi and others in 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 Pvt Ltd, New Delhi from the of the J&K Bank’s Ansal Plaza Branch in the national capital. “It was alleged that the officers of J&K Bank Ansal Plaza Branch had given loan worth crores of rupees to this firm and in connivance with the said firm, the loan amounts so sanctioned were declared as 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.