Resolution professional, others booked for cheating hotelier

A case has been registered against 10 people, including a resolution professional and officials of a private securitisation company, for allegedly cheating a luxury hotel owner in Jaisalmer in Rajasthan.
The Jaipur police said that on a complaint lodged by the owner of Fort Rajwada, 10 people have been booked for criminal breach of trust, cheating and forgery under various sections of the IPC.
As per the FIR, complainant Harender Singh Rathore alleged that the private securitisation company officials, in collusion with the resolution professional and some private individuals, played a fraud on the hotel with a motive to cheat Rs 300 crore in the garb of recovery of Rs 24 crore through insolvency proceedings, pending before the National Company Law Tribunal (NCLT) in Delhi.

Forged documents were prepared to show that the hotel is was in debt, the FIR said.
During the insolvency proceeding, the resolution professional in connivance with others valued Fort Rajwada at Rs 35 crore, whereas the actual value of the property is Rs 300 crore, the complainant said.