Patna, Sep 11 : The Enforcement Directorate on Friday conducted searches at multiple locations in Bihar, Haryana and Delhi as part of a money laundering investigation against a Gaya-based hotel group for an alleged bank loan fraud, officials said.
The action is being carried out against the Ramnandi Hotels and Resorts Ltd. (RHRL), its director Akhouri Gopal and his sons Nishant and Nitesh.
The money laundering case stems from a CBI FIR and a chargesheet which pegged the alleged proceeds of crime in the case at Rs 131.79 crore.
A total of nine premises in Gaya, Gurugram and Delhi were covered during the raids conducted under the Prevention of Money Laundering Act (PMLA), they said.
The central agency alleged that RHRL diverted Rs 58 crore out of the Rs 85 crore disbursed by the consortium of banks led by Central Bank of India using fake or forged project completion reports provided by his chartered accountant.
It was found that against the said loans, personal guarantee of Akhouri Gopal and his family members was also given to the banks, the agency said.
Officials said five properties were mortgaged with a vehicle company against outstanding dues of a related group entity.
However, the ED found that recently the said properties were sold off, despite them being mortgaged, at "grossly undervalued" consideration.
"Few of the buyers are learnt to be persons of humble means and incapable of affording such sum of money, and are suspected to be benamis or proxies of Akhouri Gopal," an officer said.
The sale of these assets was aimed at alienating the properties so that they cannot be attached under the anti-money laundering law, the officials said.
