Former SBI Chairman Pratip Chaudhuri gets bail
Harendra Singh Rathore, promoter of the hotel alleged conflict of interest against Chaudhuri. An FIR was filed and all the directors of Alchemist ARC was made party to the case.
- Nov 10, 2021,
- Updated Nov 10, 2021 8:48 AM IST
Former State Bank of India Chairman Pratip Chaudhuri, who was in judicial custody for nine days, was granted bail by a Jaisalmer court on Tuesday. Chaudhuri was sent to judicial custody for 14 days, starting November 1 after a defaulter who lost his property during a resolution process filed a complaint. The bail was granted by Additional District and Sessions Judge Dalpat Singh Rajpurohit. Chaudhuri was arrested on October 31 in Delhi in connection with the loan case of the said hotel in Jaisalmer. A case was registered against Chaudhuri in 2015 for seizing the hotel property in a loan settlement case and allegedly selling it at a throwaway price. Chaudhuri became a director on the board of the company which purchased the hotel, the police had said. The Hotel Gaudavan hotel project was financed by SBI in 2007. The project was not completed for three years and one of the promoters passed away in April 2010 too. The account gradually moved to the non-performing asset (NPA) category in June 2010. As part of the recovery measure, SBI had even invoked the SARFESI Act under the Debt Recovery Tribunal (DRT) against the borrower in July 2013. Two months later, Chaudhuri retired from the bank in September 2013, and took over the directorship of Delhi headquartered Alchemist ARC immediately after his retirement. Coincidentally, SBI sold the loan to the same ARC in March 2014. Harendra Singh Rathore, promoter of the hotel alleged conflict of interest against Chaudhuri. An FIR was filed and all the directors of Alchemist ARC was made party to the case. But SBI was not made party to the case. Eventually, a Rajasthan court issued an arrest warrant against all the Alchemist directors including Chaudhuri and CEO Dhir. SBI has stood in support of the former Chairman and said “"there has been no irregularities in the said case and prescribed rules and the processes were followed by the bank in dealing with this account".
Also read: SBI issues clarification regarding former chairman Pratip Chaudhuri's case
Also read: SBI sold over 15 loan accounts at a 65-67% discount under former chairman Pratip Chaudhuri
Former State Bank of India Chairman Pratip Chaudhuri, who was in judicial custody for nine days, was granted bail by a Jaisalmer court on Tuesday. Chaudhuri was sent to judicial custody for 14 days, starting November 1 after a defaulter who lost his property during a resolution process filed a complaint. The bail was granted by Additional District and Sessions Judge Dalpat Singh Rajpurohit. Chaudhuri was arrested on October 31 in Delhi in connection with the loan case of the said hotel in Jaisalmer. A case was registered against Chaudhuri in 2015 for seizing the hotel property in a loan settlement case and allegedly selling it at a throwaway price. Chaudhuri became a director on the board of the company which purchased the hotel, the police had said. The Hotel Gaudavan hotel project was financed by SBI in 2007. The project was not completed for three years and one of the promoters passed away in April 2010 too. The account gradually moved to the non-performing asset (NPA) category in June 2010. As part of the recovery measure, SBI had even invoked the SARFESI Act under the Debt Recovery Tribunal (DRT) against the borrower in July 2013. Two months later, Chaudhuri retired from the bank in September 2013, and took over the directorship of Delhi headquartered Alchemist ARC immediately after his retirement. Coincidentally, SBI sold the loan to the same ARC in March 2014. Harendra Singh Rathore, promoter of the hotel alleged conflict of interest against Chaudhuri. An FIR was filed and all the directors of Alchemist ARC was made party to the case. But SBI was not made party to the case. Eventually, a Rajasthan court issued an arrest warrant against all the Alchemist directors including Chaudhuri and CEO Dhir. SBI has stood in support of the former Chairman and said “"there has been no irregularities in the said case and prescribed rules and the processes were followed by the bank in dealing with this account".
Also read: SBI issues clarification regarding former chairman Pratip Chaudhuri's case
Also read: SBI sold over 15 loan accounts at a 65-67% discount under former chairman Pratip Chaudhuri