In connection with a money laundering investigation, the Enforcement Directorate (ED) has attached immovable property in the form of a commercial tower namely Ambience Tower, Shalimar Bagh, Delhi worth Rs. 252.17 Crore belonging to M/s Ambience Towers Pvt. Ltd, a company of Ambience Group, promoted by Raj Singh Gehlot under PMLA, 2002.
The ED launched an investigation based on the FIR and subsequent chargesheet submitted by the Anti-Corruption Bureau, Jammu and Kashmir, in accordance with the provisions of the Ranbir Penal Code, 1989, and the Prevention of Corruption Samvat Act, 2006. A PMLA inquiry found that M/s Aman Hospitality Pvt. Ltd, through its promoter director Raj Singh Gehlot, was granted an Rs. 810 Crore Term Loan facility by a Consortium of Banks led by J&K Bank to help finance its hotel project in Shahdara, Delhi.
The loan amount was eventually declared non-performing. During the examination, it was discovered that Raj Singh Gehlot misappropriated loan monies and routed them via a labyrinth of bank accounts owned by his family and Ambience Group firms. In addition to diverting monies, Raj Singh Gehlot was discovered to have diverted supplies to other Ambience Group project locations.
Raj Singh Gehlot was arrested on July 28, 2021, based on the results. His wife, Sheela Gehlot, and other directors of Ambience Group Businesses, Amit Gehlot, Shamsher Singh, and Pawan Singh, were named as defendants in the ED’s Prosecution Complaints.
Furthermore, the ED has filed Prosecution Complaints in the current case before the Hon’ble PMLA Court, Patiala House Courts, New Delhi on September 24, 2021, and November 17, 2022, for the committing of the crime of Money Laundering. The Hon’ble PMLA Court took cognizance of orders dated September 27, 2021, and November 30, 2022.
Previously, the ED had attached properties worth Rs. 20.20 crore belonging to Raj Singh Gehlot, his family members, and Ambience Group Businesses. Additional investigation into the problem is underway.
