Rs 5,000 crore bank fraud: Nitin Sandesara fled to Nigeria with family?

CBI

New Delhi, Sep 24: After reports emerged Nitin Jayantilal Sandesara is in Nigeria, the Central Bureau of Investigation on Monday said it has input on fugitive’s whereabouts from UAE or Nigeria.

Sandesara is a director of a Gujarat-based pharmaceutical firm Sterling Biotech, which is being probed in a Rs 5,000 crore bank fraud case.

Earlier in a day, several sections of media reported that Sandesara may have fled to Nigeria. While, last month it was that he has been arrested from Dubai.

In June this year,  after taking cognisance of CBI FIR, the Enforcement Directorate had attached properties worth Rs 4,700 crore in a Rs 5,000-crore bank fraud case involving Gujarat-based pharma company.

The Central Bureau of Investigation has booked Sterling Biotech, its directors Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Joshi, Chartered Accountant Hemant Hathi, Anup Prakash Garg and some unidentified persons over the alleged bank fraud.

According to CBI FIR, Sterling Biotech had taken loans of over Rs 5,000 crore from a consortium of banks led by Andhra Bank which had turned into non-performing assets. Total pending dues of the group companies were Rs 5,383 crore as on December 31, 2016.

In connection with alleged  Gujarat’s Sandesara Group Scam, the ED arrested a Delhi-based businessman Gagan Dhawan in November 2017 and  former director of Andhra Bank, Anup Prakash Garg so far.

WeForNews 

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