The Enforcement Directorate (ED) on Friday performed searches at seven premises related to the Atmosphere Group, which owns Leela Atmosphere Conference Resort in east Delhi and Atmosphere Mall of Gurgaon.
In accordance with the company, searches have been performed on the workplaces of Aman Hospitality Pvt Ltd (AHPL), an Atmosphere Group firm, and residential premises of its administrators Raj Singh Gehlot, Dayanand Singh, Mohan Singh Gehlot and their associates.
The searches have been performed in reference to a case of alleged siphoning off of greater than Rs 800 crore in financial institution mortgage. The ED alleges this cash was moved via shell firms floated by Gehlot, the place his personal staff have been administrators.
The company claimed to have seized Rs 16 lakh money and overseas foreign money equal to round Rs 24 lakh (16,120 Euros; £5,115; and $6,302) throughout Friday’s searches on the residence of Raj Gehlot. A number of incriminating paperwork and digital proof have been additionally seized through the search, in keeping with the ED.
The ED case is predicated on an FIR registered by the Anti-Corruption Bureau of Jammu in opposition to AHPL and its administrators in reference to alleged mortgage fraud within the development and improvement of the 5-star ‘Leela Atmosphere Conference Resort’ at 1, CBD, Maharaj Surajmal Highway, in east Delhi. Sources stated the case was registered on a grievance from J&Okay Financial institution, which was a part of the consortium of banks that had granted the mortgage.
The ED stated in a press release: “Investigation beneath PMLA revealed that an enormous a part of mortgage quantity of greater than Rs 800 crore for the lodge venture was siphoned off by AHPL and Raj Singh Gehlot and his associates via an internet of firms owned / managed by them. A considerable a part of the mortgage cash was transferred by AHPL to a number of firms and people on the pretext of ‘cost of working payments and advance for provide of fabric/work executed’. The staff of Atmosphere Group and the associates of Raj Singh Gehlot have been made administrators/proprietors of those firms and Raj Singh Gehlot was the ‘licensed signatory’ in lots of of those firms.”
The company acknowledged, “No materials was equipped and no work was executed and virtually all the quantity was instantly routed again to the entities owned by Raj Singh & Sons HUF [Hindu Undivided Family] and his brother’s son…