Former SBI Chairman Pratip Chaudhary arrested in a loan scam case

Former SBI Chairman Pratip Chaudhary was detained by Jaisalmer Sardar police today in connection with a loan scam involving a private hotel in Jaisalmer.

Pratip Chaudhary, Alok Dhir, RK Kapur, SV Venkatakrishnan, Sasi Methadil, Devendra Jain, Tarun, and Vijay Kishore Saxena have all been handed arrest warrants by the Chief Judicial Magistrate court in Jaisalmer. On Monday, Chaudhary will be transported to Jaisalmer, but Alok Dhir has managed to depart.

The investigation revolved around a Rs 24 crore loan taken out by Godawan Group from SBI in 2008 for the development of a hotel, according to authorities. Another hotel in the group was open at the time. When the group was unable to repay the loan, the bank confiscated both hotels, classifying them as non-performing assets. Chaudhary was the chairman of the SBI at the time. The hotels were sold for Rs 25 crore, a fraction of their market value.

The Godawan Group filed a lawsuit in response to this. Alchemist ARC, which purchased the hotels in 2016, assumed control of them in 2017, and after a study of the property’s market worth, it was discovered that the market price was Rs 160 crore. Meanwhile, Chaudhary has joined Alchemist ARC as a director following his retirement. At the moment, the properties are valued at Rs 200 crore. Pratip Chaudhary has been arrested in this scam case, and further actions are pending.




Readers like you help support The Tech Outlook. When you make a purchase using links on our site, we may earn an affiliate commission. We cannot guarantee the Product information shown is 100% accurate and we advise you to check the product listing on the original manufacturer website. Thetechoutlook is not responsible for price changes carried out by retailers. The discounted price or deal mentioned in this item was available at the time of writing and may be subject to time restrictions and/or limited unit availability. Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates Read More

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More