Former State Bank of India (SBI) chairman Pratip Choudhary, who is jailed in the loan scam, has been admitted to Jawahar Hospital in Jaipur after reportedly complaining of restlessness and high blood pressure, according to media reports.
Pratip Choudhary was on Monday sent to 14-day judicial custody after his arrest for alleged fraud involving the sale of a hotel when the company defaulted on a loan.
A hotel project ‘Garh Rajwada’ in Jaisalmer was financed by the bank in 2007, SBI said in a statement. The project remained incomplete for more than three years and the account turned non-performing asset (NPA) in 2010.
Police said a case was registered against Choudhary in 2015 in a loan settlement case for allegedly confiscation of prime hotel property and through fraudulent sale to a property reconstruction company (ARC).
He said Choudhary later joined as a director on the board of the company that had bought the hotel.
SBI said in its statement that all due process was followed while making the sale. The bank claimed that the court appeared to have not been properly informed on the sequence of events.
It said SBI was not a party to the case and the court had no opportunity to hear the views of the bank as part of the proceedings.
The bank has already offered cooperation with law enforcement and judicial authorities and will provide further information as needed, the statement said.
SBI said all the directors of the ARC, including Choudhary, who joined its board in 2014, have been named in the case. He retired from the service of the bank in September 2013, the statement said.
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