New Delhi, Mar 2 (IANS): The Delhi High Court on Wednesday dismissed the bail plea of Raj Singh Gehlot, Chairman of the Ambience Group of Companies, who was arrested by the Enforcement Directorate on charges of money laundering in connection with an alleged multi-crore bank loan fraud case in July, 2021.

The order, which had been reserved on February 10, was pronounced by a bench of Justice Manoj Kumar Ohri. The case is in connection with alleged irregularities in sanctioning certain loans by a consortium of banks for the construction of the Ambience hotel in New Delhi's Shahdara.

Senior Advocate Abhishek Manu Singhvi, appeared for Gehlot. He was briefed by Sandeep Kapur, senior partner - Karanjawala & Co. and his team comprising Advocates Virinder Pal Singh Sandhu, Mridul Yadav, Aashneet Singh, Niharika Karanjawala and Sahil Modi.

In the last hearing, arguments were addressed on merits as well as other legal issues involving due process, procedures established by law, and other anomalies under the Prevention of Money Laundering Act, 2002 (PMLA).

The CBI had also registered a case against a private person, Gehlot, Ambience Ltd and Ambience Developers and Infrastructure Pvt Ltd and unknown officials of HUDA, and unknown private persons on the orders of the Punjab and Haryana High Court.