New Delhi [India], Sep 29 (ANI): 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. Also Read - Photos of Blue, Clear and Breathtaking Yamuna Rvier Amid Coronavirus Lockdown go Viral
Delhi’s Patiala House court, where the charge sheet was filed, is slated to consider the case for hearing on October 3. Also Read - Coronavirus in India: Another COVID-19 Patient Dies in Maharashtra, Death Toll in State Rises to 21 | Highlights
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. Also Read - India to be Under Lockdown For 21 Days, Confirmed COVID-19 Cases Spike to 536
During ED’s probe, it came to light that Sandesara’s company alleged took loans of over Rs. 5,000 crore 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. (ANI)
This is published unedited from the ANI feed.