New Delhi: The Enforcement Directorate (ED) on Saturday filed a supplementary charge sheet against a man arrested for allegedly sending Rs 25 lakh to a politician, in connection with the Rs 5,000-crore Sterling Biotech bank fraud case.
Delhi’s Patiala House court, where the charge sheet was filed, is slated to consider the case for hearing on October 3.
Earlier this week, India asked the Nigerian Interpol about the whereabouts of fugitive businessman and director of Sterling Biotech, Nitin Sandesara, who fled the country along with his family members.
During ED’s probe, it came to light that Sandesara’s company alleged took loans of over Rs. 5,000 crores from a consortium of various banks led by Andhra Bank, which subsequently turned into bad loans or Non-Performing Assets (NPAs).
The probe also disclosed that the promoters associated with the company built more than 300 shell and fake companies in India and abroad, including Nigeria, United Arab Emirates, British Virgin Islands, USA and Mauritius to divert and misuse loan funds. The Sandesara brothers reportedly controlled these fake companies through dummy detractors.