File photo of a Bank of Baroda branch.

File picture of a Financial institution of Baroda department.

The Financial institution of Baroda has alleged in a grievance that Rs 80 crore was disbursed by the banks, however the mission was left within the lurch in its preliminary levels, the officers mentioned.

  • PTI
  • Final Up to date: August 1, 2020, 5:13 PM IST

Rahul Gaur, the son of actual property group Gaursons’chairman BL Gaur and his spouse Navneet, have been booked by the CBI for allegedly dishonest the Financial institution of Baroda and the Syndicate Financial institution to the tune of Rs 80 crore within the title of a high-end residential advanced deliberate by their agency Brys Worldwide Personal Restricted, officers mentioned on Friday.

The corporate had taken a credit score of Rs 250 crore (Rs 150 crore from the Financial institution of Baroda, Rs 100 crore from the Syndicate Financial institution) for creating a high-end residential advanced comprising 291 luxurious residences at Sector 150, Noida, they mentioned.

The Financial institution of Baroda has alleged in a grievance that Rs 80 crore was disbursed by the banks, however the mission was left within the lurch in its preliminary levels, the officers mentioned.

It’s alleged that the preliminary deposits by the consumers ought to have been credited to the escrow account however it was not performed, they added.

A forensic audit of the corporate’s account confirmed round-tripping and diversion of funds, opaque functioning and misrepresentation of information, the officers mentioned.

The account had turned a non-performing asset in 2015 with Rs 80 crore excellent, they added.

Gaursons Says Rahul Gaur Not Related to It for over a Decade

Gaurs group (erstwhile Gaursons) on Saturday mentioned Rahul Gaur has not been related to the group for over a decade and is operating a separate firm.

A press release from the corporate spokesperson cited a newspaper clipping of a public discover issued by the group’s lawyer.

The discover mentioned that Rahul Gaur has resigned from Gaursons India Ltd and its group firms, thereafter, not one of the members of the family of Manoj Gaur and BL Gaur, administrators, share holders, officers, workers have any enterprise affiliation or relation with Rahul Gaur or firms whereby he’s having any proper or curiosity.

The spokesperson mentioned, “…he isn’t related to group for over a decade now. He runs a separate firm and no matter he has performed is his private/organisation capability and Gaursons has nothing to do with it.”

Array
(
[videos] => Array
(
)

[query] => https://pubstack.nw18.com/pubsync/v1/api/movies/beneficial?supply=n18english&channels=5d95e6c378c2f2492e2148a2,5d95e6c278c2f2492e214884,5d96f74de3f5f312274ca307&classes=5d95e6d7340a9e4981b2e10a&question=Financial institution+of+Baroda+%28BoB%29%2CCBI+Gaursonspercent2CGaursonspercent2CRahul+Gaurpercent2CReal+property+group+Gaursons&publish_min=2020-07-29T10:00:49.000Z&publish_max=2020-08-01T10:00:49.000Z&sort_by=date-relevance&order_by=0&restrict=2
)