Former State Bank of India Chairman Pratip Chaudhary was arrested by Jaisalmer Sadar Police from his Delhi residence on Sunday. According to media reports, Pratip Chaudhary has been accused of loan scam. Pratip Chaudhary will be produced in the court of Chief Judicial Magistrate (CJM) Jaisalmer today. The case pertains to a property owned by the Godawan Group, which failed to repay a loan of Rs 24 crore taken by the bank in 2008 for the construction of a hotel.
Alleged selling property wrongly by making NPA
Actually this case is related to properties owned by Godawan Group. The group’s assets worth Rs 200 crore were sold for Rs 24 crore. Police say that Godawan Group had taken a loan of Rs 24 crore from SBI in 2008 to build the hotel. Which she failed to pay. Later the hotel was declared as NPA and both the hotels were attached by the bank. At that time Chaudhary was the chairman of SBI. Then both the hotels were sold to Alchemist ARC company for 24 crores. After which Choudhary’s tenure as the 23rd Chairman of SBI ended in September 2013. According to reports, after retiring from SBI, Pratip worked as a director in Alchemist ARC Company. This was the same company that sold a hotel of 200 crores for 24 crores.
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Property worth 200 crores sold for 24 crores
According to a report, Alchemist ARC had taken over the hotels in 2016, after which an assessment done in 2017 revealed that the market value of the property was Rs 160 crore and today it is worth Rs 200 crore. The Godawan group had complained in the matter after which the matter was in the court for several months. Now the Chief Judicial Magistrate in Jaisalmer has issued an arrest warrant against Chaudhary and seven others. After which Chaudhary has been arrested in the case. Chaudhary will soon be produced before the Judicial Magistrate of Jaisalmer.
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