Bail plea dismissed by Court in money laundering case of Ambience Group’s promoter

On Wednesday, Dharmender Rana, Additional Sessions Judge said if released on bail, there was a strong possibility that the accused could hamper the investigation. Public prosecutor N K Matta Ed’s special opposed the bail.

In a money laundering case associated with an alleged bank loan fraud of Rs 800 crore, the Delhi court has rejected the bail application of Ambience group promoter Raj Singh Gehlot. Gehlot was arrested under the provisions of the Prevention of Money Laundering Act (PMLA).

On Wednesday, Dharmender Rana, Additional Sessions Judge said if released on bail, there was a powerful probability that the accused could hamper the investigation. Public prosecutor N K Matta Ed’s special opposed the bail.

The Judge said, “Considering the nature of the offense, the 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.”

In July last year, Gehlot company Aman Hospitality Private Limited was raided by ED and some other companies of the Ambience Group, director in the organization Dayanand Singh, Mohan Singh Gehlot, and their associates.

The case on Gehlot by ED is based on a 2019 FIR of the Anti-corruption Bureau of Jammu against AHPL.  Gehlot is also a promoter of the Ambience Mall in Gurugram and AHPL directors charged for money laundering in the construction and development of the five-star Leela Ambience Convention Hotel situated near Yamuna Sports Complex in Delhi.

A big 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, and his associates through a web of companies occupied and monitored by them. Raj Singh Gehlot, ED claimed that

Gehlot’s associates and the employees of the Ambience group were made directors and proprietors in these firms and Gehlot was the “authorized signatory” in multiple of these entities, it had said.