Today, the Enforcement Directorate (ED) has arrested the owner of Gurugram-based Ambience Mall, Raj Singh Gehlot. Gehlot has been detained in connection with an alleged bank loan fraud case. According to the officials, the bank loan fraud case is worth Rs. 200 crores.
Talking to the media, the officials informed that Gehlot will be produced before an ED court in Delhi later today. As per ED, the case against Gehlot was registered in 2019 for money laundering in the construction of a five-star Leela Ambience Convention Hotel situated near Yamuna Sports Complex in Delhi.
Furthermore, the investigation under the Prevention of Money Laundering Act (PMLA) revealed that Gehlot and his associates had withdrawn a huge portion of the money sanctioned by a consortium of banks. This was done through a maze of companies controlled by them. The ED had conducted raids at seven premises, including Gehlot’s residence, in connection with the case in July last year.
The mall, part of Ambience Group, was constructed in 2007 and has more than 230 stores. It has also been revealed that Gehlot is a chartered accountant by profession. Moreover, the Ambience group has its in-house construction and development capabilities and is headquartered in Delhi.
The Ambience group is well-diversified and also involved in developing premium offices in Gurugram, Shalimar Bagh, and Rohini. The group also owns luxury hotels including The Leela Ambience Hotel & Residences, Gurugram, and The Leela Ambience Hotel & Convention Centre, East Delhi.