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The Central Bureau of Investigation (CBI) has booked Rahul Gaur, son of real estate group Gaursons’ chairman BL Gaur, as well as Rahul’s wife, Navneet, for duping the Bank of Baroda and the Syndicate Bank of Rs 80 crore.

The two had allegedly taken loans from the banks in the name of developing a residential complex at Noida’s Sector 150. The loans were for their company Brys International Private Limited.

Rahul Gaur

The company was sanctioned loans amounting to Rs 250 crores. Of this, Rs 100 crores was from Syndicate Bank.

The banks had disbursed Rs 80 core to the company, but it was noticed that the project had failed to take off. The account soon became an NPA.

Read Also: Banking Sector: Discordant Notes

The banks had lodged a complaint of fraud and the CBI, after investigation, registered a case of fraud against them.

– India Legal Bureau

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