Chetan Sandesara

Sterling Biotech bank fraud case: Hitesh Patel arrested in Albania raised dummy companies with help of family members

Fugitive businessman Hitesh Narendrabhai Patel, wanted in the Rs 8,100 crore bank fraud involving Sterling Biotech and Sandesara Group, was running benami entities to siphon off loans obtained from financial institutions.

'Rs 6,000-cr fraud case by Sandesara Group was daylight robbery': Nitin, Chetan Sandesara spun web to funnel illegal funds from India to Nigeria

The Appellate Tribunal, which works under the department of revenue, has termed the Sandesara Group fraud against the public sector banks as 'daylight robbery' seeking stringent action in the case. Sandesara brothers — Nitin and Chetan Sandesara, owners of Sandesara group of companies and now officially designated economic offenders

Enforcement Directorate moves court against Sterling Biotech Group promoters in Rs 8,100 cr bank loan fraud

ED has filed a plea before a special court of the Prevention of Money Laundering Act (PMLA), seeking to declare Nitin Sandesara, Chetan Sandesara, Dipti Sandesara and Hitesh Patel fugitives under Section 4 of the Fugitive Economic Offenders Act

Fugitive businessman Nitin Sandesara used 3 Indian passports, floated 37 firms in US with brother Chetan

Sandesara has secured substantial loan funds to the tune of Rs 1,030 crore from Indian banks and routed it through offshore investment companies like Crownhouse International Corp BVI, European Financial Development Corporation and Global Finance Ventures Ltd -- all owned by him.

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

Sterling Biotech is alleged to have taken loans of over Rs 5,000 crore from a consortium led by Andhra Bank which had turned into non-performing assets.

Offshore tax haven concealing data may delay seizure of assets under Fugitive Economic Offenders law

The ED can do little despite penetrating the veil of secrecy in some cases due to tax havens' non-cooperation in unearthing tax evasion and fraud.

DRT orders: While Nirav Modis, Mehul Choksis escape net, people like Nirmala Prakash stand to lose their homes

Post-Nirav Modi scam, DRT is flooded with cases for adjudication and recovery by banks but a senior officer said on the condition of anonymity that the majority of big cases involving huge sums of money are being settled as per the whims and fancies of bank officials and big borrowers.

PNB fraud: 'Payoffs, late night parties'; corruption has seeped into very core of India's public sector banks

Firstpost investigation into the PNB fraud case shows that corruption has seeped into very core of state-owned banks & this is not just a 'one-off'.