The Enforcement Directorate has carried out searches at nine premises in Gaya, Gurugram and Delhi.
The case is linked to alleged proceeds of crime worth ₹131.79 crore, as part of a money laundering investigation into an alleged bank loan fraud involving Gaya-based Ramnandi Hotels and Resorts Ltd. and its promoters.
ED Searches Nine Premises in Bank Fraud Probe
The searches were conducted under the Prevention of Money Laundering Act against Ramnandi Hotels and Resorts Ltd., its director Akhouri Gopal and his sons Nishant and Nitesh.
The money laundering case stems from a CBI FIR and chargesheet that pegged the alleged proceeds of crime at ₹131.79 crore. The Enforcement Directorate said the company had secured loans from a consortium of banks led by Central Bank of India.
According to the agency, the hotel company and its promoters allegedly diverted ₹85 crore from the loan amount. The ED claimed fake or forged project completion reports supplied by a chartered accountant were used in connection with the loan disbursal.
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Agency Alleges Diversion of ₹85 Crore Loan Funds
The ED said personal guarantees of Akhouri Gopal and his family members had also been provided to the banks against the loans.
Officials said five properties had been mortgaged with a vehicle company against outstanding dues of a related group entity. The agency later found that these properties had recently been sold despite being mortgaged.
The ED alleged that the properties were sold at “grossly undervalued” consideration. Officials also said some of the buyers appeared to be persons of modest means who may not have been capable of purchasing such properties.
Buyers Suspected to Be Proxies, ED Says
An officer said some of the buyers were suspected to be benamis or proxies of Akhouri Gopal. The agency believes the transactions require examination as part of the ongoing money laundering investigation.
Officials further alleged that the sale of the assets was intended to alienate the properties so that they could not be attached under the anti-money laundering law.
The searches form part of the ED’s investigation into the alleged bank loan fraud and the suspected movement and disposal of assets linked to the case.
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