Home Scam/Fraud Former Sbi Chairman Pratip Choudhary Arrested In Loan Scam: Report

Former Sbi Chairman Pratip Choudhary Arrested In Loan Scam: Report

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Former State Bank of India (SBI) chairman Pratip Choudhary was arrested on Sunday in connection with a loan scam case, a report said.

Jaisalmer Sadar Police held Choudhary who was implicated in the scam of a private hotel in Rajasthan’s Jaisalmer. However, one of the other accused Alok Dhir of Alchemist ARC company managed to flee.

According to the report, the hotel properties of Godawan Group in Jaisalmer worth Rs 200 crore were sold for Rs 24 crore after being seized by the bank for non-payment of loans secured against the properties.

The group took a loan of Rs 24 crore from SBI, the country’s largest lender, for the construction of a hotel in 2008, the police told The Times of India. At the same time, another hotel was being operated by the group. After the group defaulted on its loan repayments, SBI categorised the loan as a non-performing asset (NPA) and seized both hotels.
The hotels were then sold for just Rs 25 crore to…

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