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'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
Yatishyadav •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
Absconding industrialist Vinay Mittal wanted in Rs 40 cr bank frauds extradited from Indonesia, says CBI
•The CBI had registered cases against Mittal in 2014 and 2016 on the request of Corporation Bank and Punjab National Bank (PNB), which is reeling under Rs 13,000 crore bank fraud allegedly perpetrated by Nirav Modi and Mehul Choksi, they said.
Rs 5,000 crore bank fraud: CBI approaches Nigeria seeking information on fugitive businessman Nitin Sandesara
•The move came after reports that Sandesara along with his family members, also accused in the scam, have fled from the United Arab Emirates to Nigeria
Fugitive businessman Nitin Sandesara used 3 Indian passports, floated 37 firms in US with brother Chetan
Yatishyadav •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
Fp Staff •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.
Sterling Biotech director Nitin Sandesara arrested in Dubai in Rs 5,000 cr bank fraud case
•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.
Offshore tax haven concealing data may delay seizure of assets under Fugitive Economic Offenders law
Yatishyadav •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.
PNB fraud: 'Payoffs, late night parties'; corruption has seeped into very core of India's public sector banks
Yatishyadav •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'.