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CBI books Gaursons chief's son for cheating BoB, Syndicate Bank of Rs 80 cr

Gaursons chairman's son held for cheating Bank of Baroda, Syndicate Bank of Rs 80 Cr: CBI

CBI | Bank of Baroda | Syndicate Bank

Press Trust of India  |  New Delhi 

Security personnel stand guard outside the CBI headquarters, in Bengaluru | Photo: PTI

Rahul Gaur, the son of real estate group Gaursons' chairman B L Gaur, and his wife Navneet have been booked by the Central Bureau of Investigation (CBI) for allegedly cheating and to the tune of Rs 80 crore in the name of a high-end residential complex planned by their firm Brys International Private Limited, officials said on Friday.

The company had taken a credit of Rs 250 crore (Rs 150 crore from the Bank of Baroda, Rs 100 crore from the Syndicate Bank) for developing a high-end residential complex comprising 291 luxury apartments at Sector 150, Noida, they said.

has alleged in a complaint that Rs 80 crore was disbursed by the banks, but the project was left in the lurch in its initial stages, the officials said.

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It is alleged that the initial deposits by the buyers should have been credited to the escrow account but it was not done, they added. A forensic audit of the company's account showed round-tripping and diversion of funds, opaque functioning and misrepresentation of facts, the officials said.

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

First Published: Sat, August 01 2020. 09:02 IST