Chandigarh, June 30-While taking cognisance of a complaint filed in a case concerning Hotel  Marc Royale II, Zirakpur, the court of Chief Judicial Magistrate, Mohali (Punjab) has  issued summons to three senior officers of Punjab and Sind Bank’s, branch in Sector 17, Chandigarh.

The court ordered Assistant General Manager of Specialised  Corporate Finance Branch, Surender Pal Rana, Manager S.K.Behl and Chief Manager S.K.Bhalla  of the bank under Sections  420,467,468,471, 120-B of the Indian Penal Code to appear in the court on July 16, 2014.

M/s Ashiana–in-Ltd had applied for loan from the Punjab and Sind Bank  for  construction a luxury five star  hotel in Punjab that is Hotel  Marc Royale II. Initially the bank, on the basis of good will of the firm and ownership of land sanctioned a loan of about Rs 24 crore. The bank also assured that in the second  phase, the case would be forwarded to head office for sanction of loan by senior officers. Contrary to it, despite the completion of more than 50 per cent construction on war footing, the bank officers refused to give further loan. As the construction work came to a stand still for want of funds, the applicant approached the senior officers of the bank and requested them to release more funds, but they told him to contact some other bank.

The applicant Avtar Singh suspected a foul play that the refusal to give more loan for completion of Rs 250 crores project, was a conspiracy of the bank officers to grab his project by releasing about Rs 24 crores. He approached the Punjab police and lodged a complaint, which also found some irregularities thus giving strength to the suspicion of Avtar Singh. Therefore, he knocked at the door of Court of Law which  took cognisance  of his complaint and issued summons to the concerned bank officers.


Enclosed are CJM Order and Police Report.


For any enquiry you can call Avtar Singh Managing Director M No. 9814007353 


 Avtar Singh
Managing Director
Ashiana Inn Limited
M.No. 9814007353