Delhi High Court Dismisses Bail Plea Of Ambience Group Promoter Raj Singh Gehlot In Money Laundering Case

The Delhi High Court on Wednesday dismissed the bail plea of Ambience Group promoter Raj Singh Gehlot in connection with a money laundering case. (Detailed order awaited)

Justice Manoj Kumar Ohri had reserved the order earlier this month after hearing Senior Advocate Abhishek Manu Singhvi appearing for Gehlot in the matter. Advocate Zoheb Hussain appeared on behalf of the Directorate of Enforcement.

Gehlot is accused of siphoning off the loan amount and diverting funds while entering into a criminal conspiracy.

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.

A local Court had denied him bail in September last year, observing 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 had said.

Later, during the main trial, the Court had noted that Gehlot is being given special treatment in jail, such as headphone facility. Taking exception to this, it had directed the DG, Prisons, to look into the same and ensure equal treatment of all inmates.

Case Title: Raj Singh Gehlot v. Directorate of Enforcement

Citation: 2022 LiveLaw (Del) 157