New Delhi, August 01 (KMS): Raj Singh Gehlot, Chairman of the Ambience Group of Companies, will be questioned about how money was routed to different companies and how he made the J&K Bank settle for Rs 128 crore in place of Rs 289.08 crore.
Raj Singh Gehlot, who was arrested by the Enforcement Directorate (ED) on July 28 and sent to ED custody for seven days, produced before a Prevention of Money Laundering Act (PMLA) court via video conferencing on July 30.
An ED official related to probe said that during the money laundering investigation, it was found that Gehlot had entered a criminal conspiracy to fraudulently siphon off the loan amount by diverting the funds for other purposes, such as to settle the loan of other group companies and making Fixed Deposits as well as diversion of materials to other projects of the Ambience Group.
“An amount of Rs 469 crore was found to be diverted to entities and individuals, controlled by Gehlot and for which he is the authorised signatory,” he said.
The official said that during the course of investigation, Gehlot had mislead the ED and continuously tried to show that he did not make any diversion of the sanctioned loans.
“Whereas the documentary evidences collected during the search revealed that the submissions made by Gehlot were false and misleading,” the official said.
The ED official also pointed out that the agency will question Gehlot to understand how the layering and integration of money was done to siphon the loan amount. He said that the J&K Bank manager in his statement to ED had said that the loan to Gehlot was released in “deviation” of rules.
“Further, against the outstanding liability of Rs 289.28 crore, the bank officials attempted to settle the account with accused for a paltry sum of Rs 128.94 crore,” the official said.
The ED will question Gehlot as to how he made the bank to settle the loan of Rs 289.28 crore to Rs 128.94 crore and who all were the persons who benefitted from it.
The official said that the agency sleuths will also confront Gehlot with documents, including in the digital form, such as transaction details. He further said that the agency will also confront Gehlot with the statements of several accused.