India News | Delhi HC Reserves Order on Bail Plea by Ambience Group Promoter in Money Laundering Case

New Delhi, Feb 10 (PTI) The Delhi High Court on Thursday reserved its order on Ambience group promoter Raj Singh Gehlot's bail plea in a money laundering case linked to an alleged bank loan fraud of Rs 800 crore.

Justice Manoj Kumar Ohri concluded the hearing in the case after submissions were made by senior advocate Abhishek Manu Singhvi who represented Gehlot.

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Gehlot was arrested under the provisions of the Prevention of Money Laundering Act (PMLA) in July last year.

The ED had earlier raided Gehlot, his company Aman Hospitality Private Limited (AHPL), some other firms of the Ambience group, director in the company Dayanand Singh, Mohan Singh Gehlot, and their associates.

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The Enforcement Directorate (ED) case against Gehlot, who is also a promoter of the Ambience Mall in Gurugram, is based on a 2019 FIR of the Anti-Corruption Bureau of Jammu against AHPL and its directors for alleged money laundering in the construction and development of the five-star Leela Ambience Convention Hotel located near Yamuna Sports Complex in Delhi.

The ED claimed that its probe found that a huge part of the loan amount of more than Rs 800 crore, which was sanctioned by a consortium of banks for the hotel project, was siphoned off by AHPL, Raj Singh Gehlot, and his associates through a web of companies owned and controlled by them.

Gehlot, also represented by Sandeep Kapur, Senior Partner at Karanjawala & Co, has sought bail in the case on the ground that he has been in custody since July and his continued incarceration was not necessary after the filing of the charge sheet in the case.

ED lawyer Zoheb Hossain has opposed the grant of bail and said the case involved serious allegations.

In October last year, Additional Sessions Judge Dharmender Rana had refused to grant bail to Gehlot, saying there was a strong possibility that he could hamper the investigation if released on bail.

"Considering the nature of the offence, seriousness of allegations and a strong possibility of applicant/accused attempting to influence the course of trial by influencing the witnesses and tampering with the evidence, I am of the considered opinion that the bail application is bereft of any merits and the same is accordingly dismissed," the trial court had said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)