Central Bureau of Investigation (CBI) has registered FIR against directors of GS Entertainment in an alleged bank fraud case. The persons identified as accused in the FIR were directors of GS Entertainment Pvt Ltd (GSEPL) Jaspreet Singh Walia (alias Bunty Walia) and Guneet Singh Walia (alias Jassi Walia). It also mentioned the name of Stany Saidanha, chartered accountant and others.

The FIR reads that IDBI Bank has filed a complaint related to the fraud, misappropriation of funds and criminal breach of trust, by GS Entertainment Pvt Ltd. GSEPI was sanctioned assistance of a Foreign Currency Loan (FCL) of USD 2.35 mn (then equivalent to Rs 1000 lakh) and a Term Loan (RTL) of Rs 495 lakhs in June 2008 under the Film Financing Scheme for the production of the Hindi film "Lamhaa" directed by Rahul Dholakia with lead actors Sanjay Dutt, Bipasha Basu and Kunal Kapoor as the star cast.