Associate Partner

Sterling Biotech director Nitin Sandesara, family members fled to Nigeria, not Dubai, say reports

Mumbai: Nitin Jayantilal Sandesara, the absconding director of a Gujarat-based pharma company which is being probed in a Rs 5,000 crore fraud case, has reportedly fled to Nigeria and not Dubai as reports mentioned earlier. Sandesaria, his brother Chetan, sister in law, Dipti besides other family members are believed to be in Nigeria, according to media reports.

However, investigating agencies are planning to send a request to authorities in the United Arab Emirates (UAE) seeking a ‘provisional request’, the TOI report said.

Earlier, there were news reports that Sandesara was arrested by Dubai police based on a non-bailable arrest warrant issued by an Indian court. But he has left UAE, said a report in the Indian Express

"The legal process post the arrest is taking place in Dubai. We are waiting for details. Indian agencies will try to get him deported," a senior official said.

Reportedly, Indian probe agencies had information on Sandesara being in Dubai, following which the authorities alerted the officials in United Arab Emirates.

 Sterling Biotech director Nitin Sandesara, family members fled to Nigeria, not Dubai, say reports

Sterling factory in Gujarat. Pic courtesy: Sterling Biotech website

The company and its directors are being probed. CBI has booked Vadodara-based Sterling Biotech, its directors Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Joshi, chartered accountant Hemant Hathi, former director Andhra Bank Anup Garg and some unidentified persons in connection with the alleged bank fraud case.

Meanwhile many tweeted the news taking potshots at the government. The Assam Congress said, Another Gujarati, one more brank fraud, same modus operandi of fleeing from the country.

Prashant Bhushan, public interest lawyer and activist named the other Indian businessmen who had fled the country in a similar fashion. "After Mallya, Nirav Modi and Mehul Choksi, now Gujarat scamster Nitin Sandesara being investigated by the CBI, escapes with more than 2000 crs," he tweeted.

Sanjay Nirupam of the Congress in his tweet said, another 'bank chor' had been allowed to escape.

Case so far

It is alleged that the company took loans of over Rs 5,000 crore from a consortium led by Andhra Bank which had turned into non-performing assets.

As per the FIR, the total pending dues of the group of companies were Rs 5,383 crore as on December 31, 2016. The ED has taken the FIR into cognisance.

The Enforcement Directorate has arrested few people in this case including Delhi-based businessman Gagan Dhawan, former Andhra Bank director Anup Garg and Sterling Biotech Ltd director Rajbhhushan Dixit.

Multiple prosecution complaints or charge sheets have also been filed by it before a special court here.

It had also attached assets worth over Rs 4,700 crore of the pharmaceutical firm in June this year.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .

Updated Date: Sep 24, 2018 13:27:15 IST