'Mere Indolence Of Bank Authorities Would Not Absolve Him Of Misdeeds': Delhi Court Denies Bail To Ambience Mall Owner In Money Laundering Case

A Delhi Court on Friday denied bail to Raj Singh Gehlot, owner of the Gurugram-based Ambience Mall in connection with a money laundering case for allegedly siphoning off the loan amount and diverting funds while entering into a criminal conspiracy.

Additional Sessions Judge Dharmender Rana observed that mere indolence on the part of bank authorities will not absolve Gehlot of his misdeeds.

"The material available on record suggests meticulous siphoning off funds and its deft layering by the applicant/ accused, who happens to be a qualified Chartered Accountant. The material available on record, at this stage, sets out a formidable case of money laundering against the applicant/ accused," the Court said.

It added: 

"More so, when the bank officials are seen to be hand in glove with the applicant/accused, it is no surprise that they never reported the misdeed of the applicant/accused to the authorities."

A loan was allegedly sanctioned to M/s AHPL by a consortium of banks led by J&K Bank, Ansal Plaza, Delhi for construction of a hotel. Gehlot was accused of siphoning off the money in connivance of bank officials through a web of shell companies and his associates.

It was therefore alleged that Gehlot entered into a criminal conspiracy with other accused persons to fraudulently siphon off the loan amount by diverting the funds for other purposes such as to settle the loan of other group companies and making Fixed Deposit as well as diversion of materials to other projects of the Ambience Group. 

Taking note of the fact that Gehlot is a qualified Chartered Accountant, the Court rejected the bail plea after observing that he may influence the fair course of investigation as the crucial witnesses in the instant case were his acquaintances or relatives and also due to the fact of him being an influential person owing to his professional expertise.

Gehlot is presently under judicial custody in the matter. He was sent to Enforcement Directorate's remand till August 7 after his previous remand custody ended on August 5.

Title: Directorate of Enforcement v. Raj Singh Gehlot

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