New Delhi: Former State Bank of India (SBI) Chairman Pratip Chaudhary (Pratip Chowdhary) has been arrested in a loan fraud case. Jaisalmer police have reportedly arrested him from his Delhi residence. In fact, Virendra Singh, director of Hotel Godavan Private Limited, borrowed Rs 24 crore from the State Bank of India (SBI) in 2008. This whole case relates to the same.

According to the report, Godavan Group had taken a loan of Rs 24 crore from the State Bank of India (SBI for the construction of a hotel being built in Jaisalmer in 2008. At that time, another hotel in the group was in a running position. When the group could not pay the loan, the bank seized both the hotels in the tax group as non-performing assets (NPA).

The bank then sold the two hotels to a company for Rs 24 crore at a much lower market rate. The hotel group approached the court. The buyer company then took it over in 2016. The company was then MD after the retirement of the former Chairman of the State Bank of India (SBI). In 2017, when the property was evaluated, its market value was found to be Rs 160 crore. At present, former SBI Chairman Pratip Chaudhary has been remanded in judicial custody by the Jaisalmer District Court till November 15 in connection with the fraud case.

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