Jodhpur: In a big relief to former union minister Arun Shourie, the Rajasthan High Court has stayed the arrest warrant against him in a case involving the sale of a Udaipur hotel at an alleged loss of Rs 244 crore to the exchequer.
In an online hearing, the court asked Shourie to appear before it and furnish a personal bond and surety on October 15.
The case, wherein the property was sold to Bharat Hotels Ltd for Rs 7.52 crore when Shourie was the minister in charge of divestment in the Atal Bihari Vajpayee-led NDA government at the centre, pertains to the sale of public sector Indian Tourism Development Corporation’s Laxmi Vilas Palace Hotel to a private firm around two decades ago.
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During a preliminary investigation by the CBI, the property was valued at Rs 252 crore, suggesting a loss of Rs 244 crore to the exchequer.
On Tuesday, the High Court court had stayed the arrest of former disinvestment secretary Pradip Baijal and two others--MD of Lazard India Limited Ashish Guha and MD of Bharat Hotels Limited Jyotsana Suri.
The fifth accused in the case is Kantilal Karamsey, whose firm was involved in the valuation of the hotel.
(with inputs from agencies)
