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Rs 8100 crore bank loan fraud case: Sterling Biotech receives non bailable warrants


Rs 8100 crore bank loan fraud case: Sterling Biotech receives non bailable warrants

Additional Sessions Judge Satish Kumar Arora allowed the Enforcement Directorate’s plea seeking issuance of NBW against Sterling Biotech Ltd (SBL) directors Nitin Jayantilal Sandesara, Chetankumar Jayantilal Sandesara, Dipti Chetan Sandesara and Hiteshkumar Narendrabhai Patel.

New Delhi: A Delhi court Saturday issued open-ended non-bailable warrants (NBWs) against four directors of a Gujarat pharma firm in a Rs 8,100-crore money laundering probe case.

Additional Sessions Judge Satish Kumar Arora allowed the Enforcement Directorate’s plea seeking issuance of NBW against Sterling Biotech Ltd (SBL) directors Nitin Jayantilal Sandesara, Chetankumar Jayantilal Sandesara, Dipti Chetan Sandesara and Hiteshkumar Narendrabhai Patel.

Read Also: Delhi court issues notice to Sterling Biotech owners in Rs 8,100 crore bank loan fraud case

The ED has registered the alleged bank fraud case against the firm SBL under sections of the Prevention of Money Laundering Act (PMLA).

The accused are also being probed by the ED for allegedly bribing senior income tax department officials as part of an earlier criminal complaint.

Read Also: Sterling Biotech bank fraud case, ED attaches property worth 4700 crores



Source: PTI
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