Realtor Rahul Gaur of Brys Int booked by CBI for defrauding banks

New Delhi: Realtor Rahul Gaur has been booked by Central Bureau of Investigation for allegedly defrauding Bank of Baroda and the Syndicate Bank of Rs 80 crore, according to a news report by PTI. 

Rahul Gaur is the son of realty player Gaursons' Chairman B L Gaur.

It is alleged that Rahul Gaur took a loan of Rs Rs 150 crore from Bank of Baroda and Rs 100 crore from Syndicate Bank for construction of housing project but the construction was abandoned in the initial stages only. The loan was taken by Rahul Gaur’s realty firm Brys International for construction of residential project having 291 luxury flats in Sector 150, Noida.

It is also alleged that the money that the home buyers had deposited should have been credited to an escrow account but the same was not done. Forensic audit of Brys’s account found “round-tripping and diversion of funds, opaque functioning and misrepresentation of facts”, according un-named officials in the news report. The account turned into NPA (non-performing asset) in 2015 with Rs 80 crore as the outstanding amount.

Rahul Gaur and his mother Navneet Gaur (B L Gaurs’s wife) are directors in Brys International.