Alchemist ARC to move Jaisalmer court against Pratip Chaudhuri's arrest

Alchemist Asset Reconstruction Company (ARC) will move Jaisalmer district court on November 8 against rejection of bail to its director Pratip Chaudhuri, who is a former chairman of the SBI. 

The Rajasthan Police had on Sunday arrested Chaudhuri in Delhi in connection with an alleged loan scam. He has been sent to judicial custody for 14 days for an alleged sale of a non-performing asset (NPA) —Hotel Gaudavan — to Alchemist ARC at a low value. The arrest was made on the basis of a protest petition filed by former directors of Hotel Gaudavan before the Chief Judicial Magistrate (CJM) Jaisalmer.

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